Bloomberg News

Mexico Stocks: Sare Holding, Elektra, Bolsa Mexicana Were Active

July 04, 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 fell 0.2 percent to 40,353.43.

Sare Holding SAB (SAREB) , a Mexican homebuilder, surged 11.3 percent to 1.48 pesos. Beamonte Investments Inc. plans to make a bid to buy Sare as soon as July 18, Luis Trevino, managing director for Latin America at the Boston-based private equity company, said today in an telephone interview.

Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, rose 3.1 percent to 569.10 pesos. Elektra is suing the stock exchange operator and its Chief Executive Officer Luis Tellez for alleged damages resulting from the bourse’s new weighting criteria on its benchmark IPC index, according to a statement yesterday from the exchange. A Mexico City civil court temporarily blocked the exchange from implementing the new methodology while the case is underway.

Bolsa Mexicana de Valores SAB (BOLSAA MM), the operator of Mexico’s securities exchange, fell 2.5 percent to 25.88 pesos. It was the first decline in six trading days.

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus