Introduction
The Mexican stock market witnessed a significant surge, reaching new historical highs on Wednesday after three consecutive days of declines. This upswing is attributed to global investor optimism and robust financial results in the third quarter that exceeded market expectations.
Market Performance
S&P/BMV IPC: The primary index, S&P/BMV IPC, rose by 1.58% to 63,378.51 points, marking its fifteenth historical high in 2025.
FTSE-BIVA: The FTSE-BIVA index gained 1.47% to 1,262.77 points, recording its eleventh historical high this year.
Experts’ Insights
Jacobo Rodríguez, an analyst at Roga Capital, highlighted two key factors driving the positive results and investor optimism:
- Global Optimism: Rodríguez noted that the generalized optimism in global stock markets, including the United States, supports the Mexican market’s performance.
- Strong Q3 Results: He emphasized that the positive impact of published quarterly reports in Mexico last month, despite some desacelerations, has contributed to the market’s positive outlook.
Felipe Mendoza, an analyst at ATFX LATAM, described the advance as “consolidated and solid,” occurring within an upward trend maturing since the second half of 2025.
Mendoza further explained that the Mexican index remains high but healthy within its technical structure, with multiples reflecting a slight premium following the strong post-September recovery.
Regional Performance
Mexican stock markets are part of a broader optimism in Latin America. In 2025, Mexican bolsas have been among the most attractive returns, trailing only the Colombian and Chilean stock exchanges and surpassing Wall Street.
- Colombia: 47.57% increase to 2,035.82 units
- Chile: 40.57% increase to 9,432.13 units
- Mexico (S&P/BVM IPC): 28.04% increase
- Brazil: 27.44% increase
- FTSE-BIVA: 25.68% increase
The Nasdaq Composite has risen by 21.69%, the S&P 500 by 15.55%, and the Dow Jones by 11.20%.
According to Felipe Mendoza, the Latin American market rebound, including Mexico, is a response to a global narrative shift towards emerging economies. Following the U.S. correction and the Federal Reserve’s monetary pause, international investors seek diversification in positive real yields and attractive valuations.
Top Performing Companies
Among the firms in the BMV’s main index, Industrias Peñoles, Gentera, and Cementos Mexicanos stand out for their high returns:
- Industrias Peñoles: 174.15% increase to 726.97 pesos
- Gentera: 89.38% increase to 46.12 pesos
- Cementos Mexicanos (Cemex): 63.53% increase to 19.12 pesos
- Grupo México: 60.59% increase to 158.46 pesos
- Megacable: 57% increase to 53.32 pesos
Future Outlook
Although the upward trend is expected to persist for Mexican stocks, growth potential for the remainder of 2025 is somewhat limited.
Jacobo Rodríguez anticipates the BMV’s performance will hover around current levels, potentially closing the year between 62,700 and 60,300 points.
Analysts from Banorte stated that the index will face resistance around 63,000 points after respecting support at 61,240 points (50-day moving average).
Monex Casa de Bolsa analysts described the scenario as cautious, with inherent growth and attractive valuations but limited short-term catalysts. They noted that expectations near year-end remain unchanged.
