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.
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.
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.
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.
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.
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.
Infraestructura Energetica Nova SAB, the Mexican unit of natural-gas utility Sempra Energy, led gains in the country’s benchmark IPC index after winning a pipeline contract from the government-controlled energy company.
Brookfield Incorporacoes SA, Brazil’s fourth-largest homebuilder by revenue, fell to the lowest level in almost three years as first-quarter profit fell 94 percent on higher building costs and contract cancellations.