Bloomberg News

Mexico Stocks: Elektra, Wal-Mart de Mexico Shares Were Active

May 15, 2012

The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses, and prices are as of the close of trading.

The IPC index fell 1.1 percent to 37,939.63.

Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, tumbled 7.9 percent to 645.89 pesos on concern stock-exchange requirements introduced April 11 may lead to its removal from the benchmark index. The shares have plunged 49 percent since the exchange methodology was announced.

Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, gained 0.5 percent to 36.45 pesos. Scotia Capital said in an e-mailed research report that it raised Walmex, as the company is known, to sector perform, the equivalent of hold, from the equivalent of sell.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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