Bloomberg News

Mexico Stocks: Axtel, Ara, Soriana, Bolsa Mexicana Are Active

July 18, 2012

The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses and prices are as of 11:34 a.m. Mexico City time The IPC index fell 0.3 percent to 41,164.48.

Consorcio Ara SAB (ARA*) , Axtel SAB (AXTELCPO) , Organizacion Soriana SAB (SORIANAB) and Controladora Comercial Mexicana SAB (COMERUBC) are likely to leave the nation’s benchmark index in the next rebalancing in September, Santander analysts including Gonzalo Fernandez said in a research note today. The projected changes assume the use of a new methodology, which is subject to the outcome of a lawsuit, according to Santander.

Ara fell 1.4 percent to 4.25 pesos. Axtel declined 1.3 percent to 3 pesos. Soriana retreated 1.3 percent to 39.85 pesos. Comercial Mexicana rose 1.9 percent to 31.29 pesos.

Bolsa Mexicana de Valores SAB (BOLSAA MM), the operator of Mexico’s securities exchange, fell 2.5 percent to 25.45 pesos. The exchange lowered its forecast for full-year net income to a range of 720 million pesos ($55 million) to 725 million pesos, down from 745 million pesos to 750 million pesos, officials said on a conference call with analysts today. The change reflects lower expectations for derivatives volumes and increased expenses for technology, Ramon Guemez, the company’s investor relations chief, said on the call.

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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