Background on Key Figures and Relevance
The Mexican stock market, represented by the S&P/BMV IPC and the FTSE BIVA indices, has been on a five-day winning streak. This upward trend is attributed to increased risk appetite following a U.S. court’s decision against most of President Donald Trump’s tariffs.
Carlos Slim, one of Mexico’s most influential business magnates, heads Grupo Carso. His company’s stocks have been a significant driver of the market’s advance, rising by 3.29% to 133.56 pesos. Alfa, another prominent Mexican firm in the food industry, also saw a 2.45% increase, reaching 15.48 pesos.
Market Performance and Context
The S&P/BMV IPC, the primary index for Mexico’s Bolsa Mexicana de Valores (BMV), climbed 0.18% to 58,841.55 units. Meanwhile, the FTSE BIVA index, managed by the Bolsa Institucional de Valores (Biva), rose 0.12% to 1,189.41 points.
S&P/BMV IPC
Most stocks within the S&P/BMV IPC index are trading in positive territory. Grupo Carso and Alfa have been the standout performers, with their stock prices rising significantly.
Economic Data and Impact
The U.S. Commerce Department reported that the country’s Gross Domestic Product (GDP) contracted 0.2% in the first quarter, adjusted for seasonality. This figure was lower than initial estimates of 0.3% and expectations of 0.4% growth.
Positive Market Sentiment and Legal Developments
The bullish market sentiment was further bolstered by news that the U.S. International Trade Commission ruled against President Donald Trump’s “reciprocal” tariffs, ordering the annulment of the contested tariff orders.
Market Performance Summary
- The S&P/BMV IPC has gained over 1.6% in its winning streak, reaching a new historical high of 59,735.43 on Tuesday.
- So far this year, the S&P/BMV IPC has yielded more than 18% in returns.
Key Questions and Answers
- Who are the key figures mentioned in this article? Carlos Slim, head of Grupo Carso, and the U.S. President Donald Trump.
- Why are these figures relevant to the article? Carlos Slim’s Grupo Carso has been a significant driver of the Mexican stock market’s advance, while the U.S. court’s decision against Trump’s tariffs has positively impacted market sentiment.
- What is the current performance of the Mexican stock market? The S&P/BMV IPC has been on a five-day winning streak, gaining over 1.6% and reaching a new historical high this week.
- What economic data was recently released, and how does it affect the market? The U.S. GDP contracted 0.2% in Q1 (adjusted for seasonality), which was lower than initial estimates and expectations. This data, combined with positive market sentiment, has contributed to the Mexican stock market’s advance.
