Overview of the Mexican Stock Market Performance
On Tuesday morning, the Mexican stock market is witnessing significant declines, with local indices dropping around 1%. This marks the third consecutive day of red for the market. The losses are primarily led by shares of Peñoles.
Key Stock Indices and Their Performance
The benchmark S&P/BMV IPC, managed by the Bolsa Mexicana de Valores (BMV), which tracks the most actively traded local stocks, is down by 1.14% to 60,967.35 units. The FTSE BIVA, operated by the Bolsa Institucional de Valores (Biva), is also in the red, falling 0.95% to 1,216.71 units.
S&P/BMV IPC
Analyst Perspectives on Market Recovery
Despite the declines, some analysts believe that the S&P/BMV IPC is in a recovery phase. “The S&P/BMV IPC has had two days with negative balances, but the overall trend is one of recovery,” stated Análisis Banorte.
Major Losses Among Key Companies
Within the benchmark index, most values are retreating. Notable declines include:
- Industrias Peñoles: 6.71% to 739.99 pesos
- Becle: 2.59% to 21.40 pesos (produces José Cuervo tequila)
- Cemex: 2.56% to 17.16 pesos
Third Quarter Reporting Impact
Another company experiencing substantial losses is Grupo Aeroportuario del Pacífico (GAP), which dropped 3.03% to 392 pesos following positive third-quarter results that were slightly below analysts’ consensus estimates.
Upcoming Third Quarter Reports
The third-quarter reporting season continues, with key Mexican companies set to release their numbers on Tuesday. Among them are some constituents of the S&P/BMV IPC, such as:
- Quálitas: +0.08%
- Inbursa: -1.14%
- Grupo BMV: -0.67%
Key Questions and Answers
- What is causing the decline in the Mexican stock market? The drop is primarily due to losses in shares of Peñoles and other key companies, with the S&P/BMV IPC and FTSE BIVA indices falling around 1% each.
- Which companies are experiencing significant losses? Industrias Peñoles, Becle, Cemex, and Grupo Aeroportuario del Pacífico (GAP) are among the companies with notable declines.
- What is the outlook for market recovery? Some analysts, like Análisis Banorte, believe the S&P/BMV IPC is in a recovery phase despite recent declines.
- What are the upcoming third-quarter reports? Key Mexican companies, including Quálitas, Inbursa, and Grupo BMV, are set to release their third-quarter results on Tuesday.
