MarketWatch | May 4, 2011 | Carla Mozee
LOS ANGELES (MarketWatch) — Mexican stocks dropped Wednesday, with shares of market heavyweight America Movil SAB extending losses and ending at an eight-month low following a court ruling about telecom industry fees.
Mexico’s IPC equity index XX:IPC -0.95% fell 1% to 35,531.22, as home builders and consumer-discretionary stocks dropped. Shares of retailer Wal-Mart de MexicoWMMVY -2.54% were slipped 0.2% ahead of Thursday’s release of the company’s same-store sales results for April. Also lower were shares of cement maker Cemex CX -1.02% , down 3.8%.