Bloomberg News

Mexico Stocks: Pochteca, Bio Pappel, America Movil Are Active

July 06, 2012

The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses and prices are as of 11:22 a.m. local time.

The IPC index fell 0.4 percent to 39,885.88.

Bio Pappel SAB (PAPPEL*) rose 9.4 percent to 7.88 pesos after earlier climbing as much as 13 percent, the biggest intraday jump since May 4. The company said a member of its control group acquired 23 million shares in the second quarter, according to a statement sent to the Mexican bourse yesterday.

America Movil SAB (AMXL) fell 0.3 percent to 17.27 pesos. The company’s Telmex lost a lawsuit seeking to force the government to grant it a license to offer pay-TV service, El Universal newspaper columnist Maricarmen Cortes wrote, citing the Communications and Transportation Ministry’s legal director, Gerardo Sanchez Henkel.

Grupo Pochteca SAB (POCHTECB) soared 16 percent to 3.11 pesos, extending its two-day rally to 30 percent. Antonio del Valle, who invested in a 300 million peso capital increase for Pochteca in April, said in a June 21 telephone interview that the company would pursue acquisition-driven growth.

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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