Cemex SAB, the largest cement maker in the Americas, tumbled the most in a month after Credit Suisse AG and Bank of Nova Scotia analysts reduced their recommendations on the stock, citing sluggish U.S. construction.
Infraestructura Energetica Nova SAB, the Mexican unit of Sempra Energy, has doubled since the company went public last year. Credit Suisse says the stock remains cheap with the company poised to supply pipelines as the country’s energy industry opens to foreign investment.
Pacific Rubiales Energy Corp. rose the most among major Colombian stocks after Mexico’s Alfa SAB became the oil producer’s third-largest shareholder, fueling speculation the purchase will herald operational partnerships.
Cemex SAB debt tumbled, sending the yield on the benchmark bonds to a record high, as Standard & Poor’s said it may cut the rating on the largest cement maker in the Americas and a weaker peso dimmed the outlook for profit.
Infraestructura Energetica Nova SAB, the Mexican unit of Sempra Energy, is being forecast by analysts as a winner because of energy legislation that helps it extend last year’s growth and a 53 percent stock gain.
Mexichem SAB, the world’s biggest producer of a fluorine-rich mineral used in refrigerant, unleaded gasoline and toothpaste, fell to a two-month low as Credit Suisse Group AG lowered it to the equivalent of hold.
Grupo Mexico SAB, the country’s biggest resources company by market value, expects to double the amount of shallow-water rigs it leases to Petroleos Mexicanos as the state-owned oil producer boosts output.