Mexico's stock market dips 0.06%, extends losses over two sessions

Mexico's stock market experienced a slight downturn on Thursday, with the Bolsa Mexicana de Valores (BMV) closing down 0.06%. This marks the second consecutive trading session of losses for the market. The main index, the Índice de Precios y Cotizaciones (IPC), settled at 68,265.11 units, reflecting mixed results across global stock exchanges.

Gabriela Siller, director of Economic and Financial Analysis at Banco Base, noted that US markets would be closed on Friday for Juneteenth, leading to a 'Triple Witching' event on Thursday. This phenomenon, where stock options, index futures, and index options expire simultaneously, typically increases market volatility and trading volume. Siller pointed out that the IPC in Mexico concluded the session with a minor loss, extending its downward trend over two days.

Within the Mexican market, notable decliners included Sigma Foods, which fell 3.17%, followed by Walmex at -2.9%, Alsea at -2.83%, Kimberly-Clark at -2.58%, and Orbia at -2.41%. Conversely, Grupo Carso saw a significant gain of 6.75%, while Fresnillo rose 6.13%, and Grupo Hotelero Santa Fe increased by 4.93%. Despite these individual performances, the overall index saw a slight reduction.

Enrique Covarrubias, director of Economic Analysis at Grupo Financiero Actinver, reported that the Mexican index's performance for June so far stands at -0.47%, with a year-to-date gain of 6.15%. In currency trading, the Mexican peso weakened by 0.17% against the US dollar, closing at 17.36 pesos per dollar, compared to 17.33 in the previous session, according to data from the Bank of Mexico. The total volume traded reached 320.7 million shares, valued at 223,861 million pesos (approximately $1.374 billion).