IPC (MEXBOL) index falls 0.5% at market close in Mexico City, with 14 shrs rising, 19 falling and two little changed.

ADVANCERS:

* Desarrolladora Homex (HOMEX*) +4.2%; price closed at two- week low on Aug. 17 * Empresas ICA (ICA*) +0.9%; CEO Alonso Quintana says company exploring strategic alternatives for homebuilding unit

DECLINERS:

* Alfa (ALFAA) -0.9%; down 6.5% in past three days, most since July 23, after touching record high on Aug. 15 * America Movil (AMXL) -0.3%; Mexico’s Supreme Court declined on Aug. 7 to review a suit by unit Telefonos de Mexico against Mexico’s communications ministry, a court official who asked not to be named under the agency’s policy said Aug. 17 * Axtel (AXTELCPO MM) -6%; leaving IPC index Sept. 3 in rebalancing * Consorcio Ara (ARA*) -2.1%; also leaving IPC index Sept. 3 in rebalancing

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: Brendan Walsh at bwalsh8@bloomberg.net