Mexican Stock Market Enjoys Third Consecutive Day of Gains
The Mexican stock market witnessed a positive start to the week, with both the Bolsa Mexicana de Valores (BMV) and the Bolsa Institucional de Valores (BIVA) closing at new highs during intraday trading.
The S&P/BMV IPC, managed by the BMV, increased by 0.49% to reach 62,610.12 points, marking its third consecutive day of growth. Meanwhile, the FTSE-BIVA, operated by BIVA, rose 0.46% to 1,250.39 points.
During the session, the IPC hit its tenth record in September and flirted with the 63,000-point mark. The FTSE-BIVA recorded its eighth record of the month, reaching 1,256.97 points.
Key Companies Driving the Market Uptick
The strong performance of the IPC was largely driven by Grupo México’s stock price, which surged 5.82% to 156.51 pesos due to the rising price of copper, one of its primary products. Kimberly Clark de México and Gentera also contributed to the gains, rising 2.08% and 1.39%, respectively.
Outside the IPC, Minera Frisco’s stocks soared 15% to 10.24 pesos, causing the BMV to temporarily halt trading during the day.
Minera Frisco did not disclose the reasons behind this movement, attributing it to market conditions in a statement sent to the BMV.
Government Meetings with US Authorities Amid Trade Uncertainty
In response to recent trade tensions, the Mexican government plans to hold meetings with US trade authorities to clarify new tariffs announced by President Trump on various products, including medicines, upholstered furniture, and heavy-duty trucks.
Key Economic Data from the US Expected This Week
Investors are eagerly awaiting the release of key US economic data this week, which will provide insights into the Federal Reserve’s (Fed) future interest rate decisions for the final quarter of the year.
- Key Data Releases:
- Nonfarm Payroll (NFP) report and unemployment rate for September
- Job Openings and Labor Turnover Survey (JOLTS)
- Private sector ADP employment report
- Manufacturing PMI and ISM data
- Local Agenda:
- Public finances report
- Banco de México’s expectations survey
- Monthly remittance inflows
