Overview of Mexican Stock Market Performance
The primary index of the Mexican Securities and Exchange Commission (BMV), the S&P/BMV IPC, closed on Friday with a gain of 0.60%, reaching 56,720.12 points. Meanwhile, the FTSE-BIVA, from the Bolsa Institucional de Valores (Biva), increased by 0.47% to 1,153.70 units.
Over the week, both indices accumulated a gain of 6.98%. The S&P/BMV IPC has seen eight consecutive days of growth, resulting in an 8.1% gain for April and a 14.6% increase year-to-date.
The S&P/BMV IPC had its largest weekly gain since the last week of June 2020, when it saw a 7.82% advance.
Key Company Performances
Among the top performers in the Mexican stock market this week were Genomma Lab, Megacable, and GCC:
- Genomma Lab: The company’s stock rose by 7.04% to 24.78 pesos.
- Megacable: Megacable’s stock gained 6.86% to reach 48.42 pesos.
- GCC: The cement producer’s stock increased by 4.94% to 173.66 pesos.
Global Market Performance
Wall Street also saw gains on Friday, with weekly advances as investors analyzed various results and sought signs of relief from tensions in the US-China trade dispute.
- S&P 500: Up 0.74% to 5,525.21 units
- Nasdaq Composite: Up 1.26% to 17,382.94 units
- Dow Jones Industrial Average: Up 0.05% to 40,113.50 points
The S&P 500 and Nasdaq were bolstered by gains in the group of seven large-cap companies related to artificial intelligence, while the Dow Jones showed more moderation.
China exempted some US imports from its 125% tariffs, signaling a reduction in tensions between the world’s two largest economies following recent statements by US Treasury Secretary Scott Besson. This move has helped ease market volatility caused by their ongoing trade war.
Earnings Season and Market Outlook
The first-quarter earnings season is in full swing, with 179 S&P 500 companies having reported their results so far. Of these, 73% have surpassed expectations.
Analysts forecast a 9.7% year-over-year increase in S&P 500 aggregated profits for the January-March period, surpassing the previous estimate of 8% from April 1.
Alphabet’s stock advanced by 1.47% after reporting a 28% increase in Google Cloud revenue and assuring investors that their AI investments are paying off.
Key Questions and Answers
- Q: What is the main topic of this article? A: The Mexican stock market’s recent performance, with a focus on the S&P/BMV IPC and FTSE-BIVA indices, as well as key company gains like Genomma Lab, Megacable, and GCC.
- Q: How have Mexican stocks performed recently? A: The S&P/BMV IPC has seen its best weekly performance since June 2020, with an 8.1% gain in April and a 14.6% increase year-to-date.
- Q: What drove the gains in the Mexican stock market? A: Investors analyzed various results and sought signs of relief from US-China trade tensions, with China exempting some US imports from tariffs.
- Q: How have global markets performed alongside the Mexican stock market? A: Wall Street also saw gains on Friday, with the S&P 500 and Nasdaq Composite up for the week, while the Dow Jones Industrial Average showed more moderation.
- Q: What is the outlook for S&P 500 aggregated profits in Q1? A: Analysts forecast a 9.7% year-over-year increase in S&P 500 aggregated profits for the January-March period.
