Bloomberg News

Mexico Stocks: Elektra, Mexichem, OHL Mexico Were Active

July 13, 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 0.6 percent to 40,498.47.

Grupo Elektra SAB (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, rose 2.5 percent to 556.73 pesos. Bolsa Mexicana de Valores SAB, the operator of Mexico’s stock exchange, said a proposed change that could result in Grupo Elektra SAB being removed from the benchmark IPC index is still blocked by a lawsuit from the company.

Mexichem SAB (MEXCHEM*) rose 1.4 percent to 58.62 pesos. Mexichem, Latin America’s biggest maker of plastic pipes, said its sewer pipe maker in the Netherlands, Wavin NV, renegotiated bank debt.

OHL Mexico SAB (OHLMEX*) rose 3.3 percent to 18.05 pesos. The company’s shares were punished excessively by the lost of a concession in Puebla earlier this year and does not reflect the potential of other active projects with the government, according to a note published by Grupo Financiero Ve Por Mas SA. Their target price for the end of the year is 20.4 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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