Overview of the Mexican Stock Market Performance
The Mexican stock market experienced a downturn on Friday, with both the S&P/BMV IPC and FTSE BIVA indices closing lower. This decline extended the week’s trend influenced by Q3 earnings reports from major companies.
- S&P/BMV IPC: The leading index of the Bolsa Mexicana de Valores (BMV) dropped 0.6% to 61,145.49 units.
- FTSE BIVA: The index of the Bolsa Institucional de Valores (Biva) decreased by 0.73% to 1,217.95 units.
Market Analysis and Expert Opinions
According to Análisis Banorte, “We expect the momentum to continue after surpassing 61,400 points. In this context, the psychological resistance at 62,000 units will be tested. Meanwhile, support is located around 60,500. We recommend maintaining positions.”
Top Decline Performers
- Industrias Peñoles: The mining company’s stocks led the decline, falling 3.86% to 734.25 pesos.
- Megacable: Shares of the telecommunications firm dropped 3.73% to 52.97 pesos.
- Orbia Advance: The conglomerate’s stocks decreased by 3.33% to 16.56 pesos.
Weekly and Yearly Performance
The local indices extended their weekly declines, influenced by Q3 figures from significant companies. The S&P/BMV IPC accumulated a 2.17% drop during this period, but the index has shown a positive yearly performance of 23.26%.
Key Questions and Answers
- What happened in the Mexican stock market on Friday? The S&P/BMV IPC fell 0.6% to 61,145.49 units, while the FTSE BIVA decreased by 0.73% to 1,217.95 units.
- Why did the Mexican stock market experience a downturn this week? The decline was influenced by Q3 earnings reports from major companies, extending the week’s trend.
- What are the top decline performers this week? Industrias Peñoles, Megacable, and Orbia Advance led the decline with 3.86%, 3.73%, and 3.33% drops, respectively.
- How has the Mexican stock market performed this year? Despite a 2.17% weekly drop, the S&P/BMV IPC has shown a positive yearly performance of 23.26%.
