Mexico's Stock Exchange Falls 0.25% Weekly, Extends Decline to Three Weeks

Mexico's Stock Exchange experienced a minor dip on Friday, closing down 0.02%, which resulted in a weekly loss of 0.25%. This downturn extends a streak of three consecutive weeks of decline for the main index, the Índice de Precios y Cotizaciones (IPC), bringing its closing value to 67,060.49 units.

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The capital market closed the week with generalized gains globally, due to the expectation that the Fed will be less restrictive in the year, after the publication of the June employment report in the United States.

This performance contrasts with the general trend in global markets, which saw widespread gains driven by expectations that the U.S. Federal Reserve might adopt a less restrictive monetary policy following the release of June's employment report in the United States. Gabriela Siller, Director of Economic and Financial Analysis at Banco Base, noted that the Mexican IPC has now fallen in four of the last five weeks.

Within the Mexican market, significant weekly losses were observed among major companies, including Grupo Carso (-5.46%), América Móvil (-2.89%), Arca Continental (-2.19%), Volaris (-2.14%), and Walmex (-1.36%). Conversely, Regional and Banorte led the advances. Despite the recent setbacks, Enrique Covarrubias, Director of Economic Analysis at Grupo Financiero Actinver, highlighted that the Mexican index still holds a 4.28% gain for the year.

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In Mexico, the expert pointed out, the IPC closed the week with a loss of 0.25% accumulating declines in four of the last five weeks.

In Friday's trading session, 20 out of the 35 companies comprising the IPC index ended in negative territory. The Mexican peso remained stable against the U.S. dollar, trading at 17.48 units per dollar. Trading volume reached 37 million shares, valued at approximately 2.592 billion pesos (about $148 million).

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By issuer, 20 of the 35 that make up the index ended in negative territory.