Mexico’s ICA Falls Most Since 2011 as Construction Suffers Slump
This article is for subscribers only.
Empresas ICA SAB, Mexico’s biggest builder, plunged the most in four years as construction revenue declined, leaving the company with a loss and disappointing investors who were betting on more government spending.
Shares fell 8.6 percent to 10.11 pesos at 11:47 a.m. in Mexico City, the worst performance since August 2011 on a closing basis. ICA was the biggest loser on the benchmark IPC index, which rose 0.8 percent. The stock earlier fell to 9.77 pesos, its lowest intraday level since 2003.