Bloomberg News

Mexican Stock Movers: Corp. Geo, Grupo Elektra, Homex, Maxcom

June 22, 2012

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

The IPC index rose 1.4 percent to 39,071.50.

Mexican homebuilders posted their best week in three years amid speculation rule changes at the nation’s biggest mortgage provider will improve cash flow.

Desarrolladora Homex SAB (HOMEX*) , Mexico’s largest homebuilder, surged 7.4 percent to 34.02 pesos. Corp. Geo de SAB (GEOB MM), the country’s second-largest homebuilder, jumped 5.8 percent to 14.71 pesos. The Habita (HABITA) index of six Mexican homebuilders rose 5.5 percent. The gauge advanced 15 percent this week.

Maxcom Telecomunicaciones SAB (MAXCOMCP) soared the most in seven months as late-day trades sparked a surge in volume. The shares climbed 15 percent to 2.40 pesos, the biggest advance since Nov. 15. Volume more than doubled its average daily trading for the past three months. The company said in a statement to the stock exchange that it had nothing to disclose that could be moving the stock.

Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, climbed 2.1 percent to 546.61 pesos. The shares have climbed 34 percent since the company announced before markets opened on June 19 that it had unwound some equity derivative positions, increasing its percentage of floating shares and buoying optimism it would remain on the nation’s benchmark index.

Controladora Comercial Mexicana SAB (COMERUBC MM), the Mexican supermarket chain that agreed this month to sell its stake in Costco de Mexico, rose 3.6 percent to 28.97 pesos.

Wal-Mart de Mexico SAB (WALMEXV MM), which fell 5.1 percent yesterday after lowering its forecast for this year’s store openings, rose 2 percent today to 35.27 pesos.

To contact the reporter on this story: Patricia Laya in New York at playa2@bloomberg.net

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


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