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4-Traders Homepage  >  Equities  >  Mexican Stock Exchange  >  Cemex SAB de CV    CEMEX CPO   MXP225611567

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Mexico's Stocks End Higher; Peso Gains on Oil Price Recovery

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03/22/2016 | 09:53pm CEST

By Anthony Harrup

MEXICO CITY--Mexican stocks rose Tuesday to their highest close in almost a year as local investors returned from a long weekend, while a rebound in oil prices lifted the peso against the U.S. dollar.

The IPC index of most-traded stocks rose 0.3% to 45,632 points, its highest close since late April 2015.

Shares of cement and building materials company Cemex rose 4% to MXN12.44, adding to last week's hefty gains when company executives reaffirmed their commitment to improving the company's debt profile and raised their target for free-cash-flow generation this year. Credit Suisse upgraded the stock Monday.

Telecommunications company America Movil shares closed up 1.2% at MXN13.16.

The peso recovered from early losses along with oil prices. The currency was quoted in Mexico City at 17.3385 to the U.S. dollar, compared with MXN17.3940 at the close Friday. Mexican markets were closed Monday for the Benito Juarez holiday and will be closed Thursday and Friday for Easter.

In local economic news, the National Statistics Institute reported a smaller-than-expected 0.1% rise in consumer prices for the first half of March, although core prices, which exclude energy and much fresh produce, rose more than anticipated.

Tourism services and airfares ahead of the Easter holidays contributed to the 0.3% core reading, while the weaker peso continued to affect prices of some durable goods.

"Although the inflation outlook is still somewhat comfortable, the large MXN depreciation in recent months added visible upside risk to the inflation outlook despite still-sluggish real activity dynamics and evidence of just moderate pass-through," Goldman Sachs said in a note.

The Bank of Mexico is likely to continue watching for evidence of the exchange-rate effect spilling into other prices, which could prompt further interest-rate increases, Goldman Sachs added.

Write to Anthony Harrup at [email protected]

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Financials ( MXN)
Sales 2017 265 B
EBIT 2017 36 735 M
Net income 2017 17 067 M
Debt 2017 207 B
Yield 2017 -
P/E ratio 2017 13,46
P/E ratio 2018 16,49
EV / Sales 2017 1,62x
EV / Sales 2018 1,54x
Capitalization 223 B
Chart CEMEX SAB DE CV
Duration : Period :
Cemex  SAB de CV Technical Analysis Chart | CEMEX CPO | MXP225611567 | 4-Traders
Technical analysis trends CEMEX SAB DE CV
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 19,1  MXN
Spread / Average Target 25%
EPS Revisions
Managers
NameTitle
Fernando Angel González Olivieri Chief Executive Officer & Non-Independent Director
Rogelio Zambrano Lozano Executive Chairman
Jose Antonio González Flores Chief Financial Officer & Executive VP-Finance
Dionisio Garza Medina Independent Director
Armando Jorge García Segovia Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
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CRH PLC-8.06%30 244
HEIDELBERGCEMENT-3.32%19 771
ULTRATECH CEMENT LTD23.32%16 941
VULCAN MATERIALS COMPANY-7.09%15 520