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.
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.
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.
Empresas ICA SAB is beating regional peers in the bond market as investors bet the Mexican builder will dispel Moody’s Investors Service concerns on debt levels by increasing revenue from highway and prison projects.