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Mexico's stock market dips 0.26%, index at 67,071 units
🇵🇾 Paraguay /Economy & Trade

Mexico's stock market dips 0.26%, index at 67,071 units

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

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  • Mexico's stock market fell 0.26% on Thursday, with its main index closing at 67,071.11 units.
  • The decline occurred despite global markets generally advancing, driven by optimism over a less restrictive U.S. Federal Reserve.
  • Key Mexican companies like Walmex and Genomma Lab saw significant losses, though the index remains up 4.3% year-to-date.

Mexico's stock market experienced a slight downturn on Thursday, with the Mexican Stock Exchange (BMV) Index of Prices and Quotations (IPC) losing 0.26% to close at 67,071.11 units. This dip marked the second decline in the last three trading sessions.

The capital market closed the session with gains, with the exception of the Nasdaq Composite in the U.S. The benefits are due to optimism about a less restrictive Fed.

— Gabriela SillerDirector of Economic and Financial Analysis at Banco Base, explaining market movements.

The broader market sentiment was influenced by global optimism regarding a potentially less restrictive U.S. Federal Reserve policy. However, specific Mexican companies faced significant losses. Among the notable decliners were Walmex, which fell 2.57%, Genomma Lab down 2.37%, Televisa at -2.1%, Gentera at -1.59%, and Banregio at -1.55%.

Despite the day's losses, the Mexican peso strengthened by 0.4% against the U.S. dollar, trading at 17.48 units per dollar. The IPC has shown resilience throughout the year, registering a 4.3% advance year-to-date, according to Enrique Covarrubias, director of Economic Analysis at Grupo Financiero Actinver.

In Mexico, the IPC closed the session with a loss of 0.26%, registering declines in two of the last three sessions.

— Gabriela SillerDirector of Economic and Financial Analysis at Banco Base, commenting on the Mexican market's performance.

The trading session saw a volume of 127 million shares traded, valued at 13.405 billion pesos (approximately $766 million). Out of 689 companies listed, 295 advanced, 376 declined, and 18 remained unchanged. Top gainers included Kimberly Clark de México (KIMBER B) with a 4.82% increase, Grupo Pochteca (POCHTEC B) up 4.17%, and BBVA (BBVA) with a 2.11% rise.

Despite this Thursday's setback, the Mexican index so far this year registers an advance of 4.3%.

— Enrique CovarrubiasDirector of Economic Analysis at Grupo Financiero Actinver, providing year-to-date context for the index.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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