Bloomberg News

Mexico Stocks: America Movil, Grupo Elektra, ICA Were Active

June 05, 2012

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

The IPC index rose 0.1 percent to 37,089.36.

Empresas ICA SAB (ICA*) , the country’s biggest construction company, rose 3.4 percent to 20.82 pesos. ICA Fluor, a joint venture between ICA and Fluor Corp., signed a contract worth $95 million with Mexican oil producer Petroleos Mexicanos to build an offshore production platform, according to a statement sent by the stock exchange after markets had closed.

Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, surged 8.5 percent to 490.27 pesos. As of yesterday, it had tumbled 67 percent this year, dragging its valuation to 11.2 times trailing earnings before interest, taxes, depreciation and amortization, the cheapest since March 31, 2008. Billionaire Carlos Slim’s Grupo Financiera Inbursa SAB executed more purchases than any other brokerage today.

America Movil SAB (AMXL) , the wireless carrier controlled by Slim, slipped 0.4 percent to 16.41 pesos. America Movil acquired 4.1 percent of Telekom Austria AG and plans to buy a 21 percent stake held by Ronny Pecik, News magazine reported today, without saying where it got the information.

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

To contact the editors responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net; Rob Urban at robprag@bloomberg.net


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