Mexican Stock Exchange Reaches Record Close; Up Nearly 20% This Year

Overview of the Mexican Stock Market Performance

The Mexican stock market concluded its trading on Friday with gains, continuing the upward trend for two consecutive days. This movement mirrors global markets’ reactions to the United States’ monetary policy outlook.

Key Market Indices

• S&P/BMV IPC: The leading index of the Bolsa Mexicana de Valores (BMV) increased by 0.96% to reach 59,225.48 units.
• FTSE BIVA: The index of the Bolsa Institucional de Valores (Biva) rose by 1.03% to 1,186.87 units.

Notable Gainers in the Mexican Market

Among the top performers within the main index, Orbia led with a 4.91% increase to 13.26 pesos, followed by Grupo Televisa with a 4.01% rise to 9.16 pesos, and América Móvil, owned by billionaire Carlos Slim, with a 3.36% gain to 18.78 pesos.

Monetary Policy Outlook and Investor Reaction

In his anticipated speech at the annual Jackson Hole symposium, Federal Reserve President Jerome Powell hinted at a possible interest rate adjustment in September due to growing labor market risks. However, he acknowledged that inflationary pressures remain.

Investors responded positively to the expectation of a less restrictive monetary policy, which would lower borrowing costs. During intraday trading, the S&P/BMV IPC reached its highest level since March and closed at a new historical record.

Year-to-Date Performance

The main index has seen a weekly gain of 1.55%, with a starting point of 58,320.48 units last Friday. This positive trend has elevated the Mexican market’s solid performance to 19.62% for the year.

Key Questions and Answers

• What is the Mexican stock exchange’s current status? The Mexican stock market has reached a record close, with the S&P/BMV IPC and FTSE BIVA indices rising by 0.96% and 1.03%, respectively.
• Who are some notable gainers in the Mexican market? Orbia, Grupo Televisa, and América Móvil have seen significant gains of 4.91%, 4.01%, and 3.36%, respectively.
• What factors influenced the Mexican stock market’s performance? Investors reacted positively to expectations of a less restrictive monetary policy by the Federal Reserve, which would lower borrowing costs.
• How has the Mexican stock market performed year-to-date? The main index has gained 19.62% for the year, with a weekly increase of 1.55%.