Bloomberg News

Mexico Stocks: Alfa, Cemex, Grupo Elektra Shares Were Active

July 16, 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 1 percent to 40,910.80.

Alfa SAB (ALFAA) , which controls Mexico’s largest publicly traded petrochemical company, pared earlier gains of as much as 0.6 percent and closed up 0.3 percent at 216.51 pesos. The company said in a mid-day report that second-quarter net income fell 33 percent as the peso weakened, increasing financing costs.

Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, surged 7 percent to 595.90 pesos. Elektra has surged 46 percent since saying June 19 that it unwound some stock derivatives contracts, spurring optimism it will meet conditions to remain on the nation’s benchmark index.

Cemex SAB (CEMEXCPO) , the largest cement maker in the Americas, fell 1 percent to 8.95 pesos. Retail sales in the U.S., once Cemex’s biggest market by sales, unexpectedly fell for a third month in June as limited employment gains took a toll on consumers.

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


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