Overview of Market Volatility and Government Shutdown
With the closure of U.S. government activities, market volatility has been contained despite the lowering curtains on governmental activity. This current shutdown, the first in nearly seven years, is not new, with past closures ranging from a few hours to 34 days in 2018. The most striking aspect of this situation is the absence of official figures to gauge the U.S. economy.
Grupo Carso’s Contract with Pemex
Grupo Carso, a prominent Mexican conglomerate led by Carlos Slim, has signed a contract with Petróleos Mexicanos (Pemex) to drill up to 32 wells in the Ixachi field, one of Mexico’s most significant onshore assets. The agreement, reported by Kapital Grupo Financiero, was made through subsidiaries GSM Bronco and MX DLTA NRG 1. The three-year contract has a maximum value of $1,991 million, including financing.
- Pemex will start payments in January 2027, with monthly installments for each well delivered.
- An estimated 12 units are expected to be producing by that date.
Becle’s Sale of Stake in Lalo Spirits
Becle, the world’s largest tequila producer, announced the sale of its entire stake in Lalo Spirits Holdings. The Guadalajara-based company, which owns Cuervo, is a producer of premium tequila without additives. Becle, listed on the Mexican Stock Exchange, invested $24 million in Lalo Spirits between 2023 and 2024, though the terms of the deal remain undisclosed. The company emphasized that it was a good return on investment and part of their portfolio management discipline.
Aeroportuario del Pacífico Reports Passenger Traffic Increase
Grupo Aeroportuario del Pacífico reported a 1% increase in passenger traffic across its 12 Mexican airports compared to September of the previous year.
- Puerto Vallarta saw a 2.6% growth, while Guadalajara experienced a 0.3% increase.
- Los Cabos, Tijuana, and Montego Bay in Jamaica reported decreases of 4.8%, 0.6%, and 0.3%, respectively.
OnePay to Offer Cryptocurrency Access
OnePay, a financial technology firm backed by Walmart, plans to provide its clients access to Bitcoin and Ether by the end of the year, according to a CNBC report citing sources familiar with the matter. The integration will be facilitated by technology startup Zero Hash.
Walmart’s stock rose 0.88% on Wall Street Friday following the news.
Key Questions and Answers
- Q: How has the U.S. government shutdown affected market volatility? A: Market volatility has been contained despite the lowering curtains on governmental activity, with the current shutdown being the first in nearly seven years.
- Q: What is Grupo Carso’s recent contract with Pemex about? A: Grupo Carso signed a three-year contract with Pemex to drill up to 32 wells in the Ixachi field, one of Mexico’s most significant onshore assets, with a maximum value of $1,991 million.
- Q: What did Becle announce regarding Lalo Spirits Holdings? A: Becle, the world’s largest tequila producer, sold its entire stake in Lalo Spirits Holdings, emphasizing it was a good return on investment and part of their portfolio management discipline.
- Q: How has passenger traffic fared at Aeroportuario del Pacífico’s airports? A: Passenger traffic increased by 1% compared to September of the previous year, with Puerto Vallarta and Guadalajara showing growth while Los Cabos, Tijuana, and Montego Bay reported decreases.
- Q: What is OnePay’s plan regarding cryptocurrency access? A: OnePay, backed by Walmart, plans to provide its clients access to Bitcoin and Ether by the end of the year through a partnership with technology startup Zero Hash.
