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Mexican Stock Exchange Ends Week Down 0.37%, Closing at 65,484.32 Units
🇵🇾 Paraguay /Economy & Trade

Mexican Stock Exchange Ends Week Down 0.37%, Closing at 65,484.32 Units

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

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  • The Mexican Stock Exchange (BMV) closed the week with a 0.37% loss, ending at 65,484.32 points, despite gains in most global markets.
  • Several major Mexican companies, including Vesta and Orbia, experienced significant weekly losses.
  • The Mexican peso depreciated by 0.35% against the US dollar, and trading volume was substantial.

Mexico's stock market concluded the trading week on a down note, with the Mexican Stock Exchange (BMV) registering a 0.53% decline on Friday. This brought the total weekly loss for the main indicator, the Price and Quotations Index (IPC), to 0.37%. The index closed the week at 65,484.32 units, marking its second negative close in the past three weeks.

The capital market closed the week with generalized gains among the main stock indices globally; in the United States, the main indicators (Dow Jones, Nasdaq Composite and S&P 500) advanced.

— Gabriela SillerDirector of Economic Financial Analysis at Grupo Financiero Base, commenting on global market performance versus Mexico's.

This performance stands in contrast to the broader global trend, where most major stock markets experienced gains. Gabriela Siller, Director of Economic Financial Analysis at Grupo Financiero Base, noted that while global indices in the United States, such as the Dow Jones, Nasdaq Composite, and S&P 500, advanced, the BMV lagged behind. Siller pointed out that the Mexican index's weekly loss followed a 2.07% gain in the preceding week.

Within the Mexican market, several prominent companies saw notable weekly declines. Vesta experienced a 4.32% drop, followed by Orbia at -4.26%, Grupo Cementos de Chihuahua at -3.88%, Megacable at -3.27%, and Industrias Peñoles at -3.01%. Enrique Covarrubias, Director of Economic Analysis at Actinver, added that 23 out of the 35 main companies comprising the IPC index ended the week in negative territory.

The IPC of the BMV closed with a weekly loss of 0.37%, after a gain of 2.07% in the previous week.

— Gabriela SillerDirector of Economic Financial Analysis at Grupo Financiero Base, detailing the BMV's weekly performance.

Adding to the market's challenges, the Mexican peso weakened against the US dollar, depreciating by 0.35% to close at 17.03 units per dollar, compared to 16.97 at the start of the session. Trading volume on the exchange was significant, with 132.5 million shares traded for a total value of 15.306 billion pesos (approximately $898.7 million USD). Despite the overall negative trend, some companies saw gains, with Axtel series Controladora Axtel and Axtel CPO rising 13.23% and 12.96% respectively, and Grupo Gicsa adding 5.7%.

23 of the 35 main companies that make up the index closed in negative territory.

— Enrique CovarrubiasDirector of Economic Analysis at Actinver, providing details on the performance of individual stocks within the IPC index.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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