Bloomberg News

Mexico Stocks: Modelo, Cemex, Bimbo, Sports World Were Active

June 28, 2012

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

The IPC index rose 0.4 percent to 39,637.66.

America Movil SAB (AMXL) , the wireless carrier controlled by the Mexican billionaire Carlos Slim, rose 0.2 percent to 17.24 pesos. The company won the stake it sought in Royal KPN NV (KPN) yesterday, increasing its influence in Europe despite opposition from the Dutch company.

Cemex SAB (CEMEXCPO) , the largest cement maker in the Americas, gained 2.2 percent to 8.77 pesos. The company is trying to prevent a financing crunch in 2014 as a housing slump in the U.S. and a deepening debt crisis in Europe erode sales.

Grupo Bimbo SAB (BIMBOA) , the world’s largest breadmaker, rose 1.5 percent to 32.05 pesos. Earlier this month the company announced it would forgo takeovers through 2014 after 15 acquisitions over the past decade helped drive debt relative to earnings to a two-year high.

Grupo Modelo SAB (GMODELOC) , Mexico’s largest beermaker, rose 3.8 percent to 117.74 pesos. Earlier this week shares rallied as much as 19 percent after a person familiar with the matter said Anheuser-Busch InBev NV was seeking to buy the rest of the Mexican brewer for about $20 billion.

Grupo Sports World SAB (SPORTS MM), a gym operator trading on Mexico’s small-capitalization index, rose 3.2 percent to 13.93 pesos after climbing as much as 5.9 percent earlier in Mexico City trading, the biggest intraday advance since Nov. 9. Sports World’s board authorized an investment group yesterday to purchase as much as 9.99 percent of the company’s shares.

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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