Mexican stock market falls 0.74%, extends losses to four days, drops below 66,000 units

Mexico's stock market experienced a downturn on Monday, with the S&P/BMV IPC index dropping 0.74% to close at 65,650.23 units. This marks the fourth consecutive day of losses and the seventh decline in the last eight sessions, reaching its lowest level since March 23. The mixed global market performance did not prevent a negative close for Mexico.

Analysts noted the decline. Gabriela Siller, Director of Economic and Financial Analysis at Banco Base, explained that the Mexican capital market closed with mixed results globally. She highlighted that the IPC has fallen in seven of the last eight sessions. Enrique Covarrubias, Director of Economic Analysis at Grupo Financiero Actinver, added that the market has retreated 4.21% in June so far, although it still holds a 2.16% gain for the year.

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The capital market closed the session with mixed results among the main stock indices globally. In Mexico, the IPC closed the session with a loss of 0.74%, falling in seven of the last eight sessions and closing at its lowest level since March 23.

Several major companies saw significant losses. Gentera fell 4.42%, Cemex dropped 3.03%, Chedraui declined 2.28%, Grupo Aeroportuario del Pacífico was down 1.83%, and Liverpool lost 1.71%. On the other hand, some companies saw gains, with mining company Frisco (MFRISCO A-1) rising 7.75%, chemical distributor Alpek (ALPEK A) up 3.6%, and food producer Grupo Minsa (MINSA B) increasing by 2%. The peso strengthened 0.11% against the dollar, trading at 17.46 units.

The total trading volume reached 203 million shares, valued at 16.163 billion pesos (approximately $925.7 million). Out of 734 companies traded, 322 closed higher, 385 registered losses, and 27 remained unchanged.

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With this movement, the Mexican market has retreated 4.21% so far in June, although it registers an advance of 2.16% for the year.