The Mexican stock market starts the week with gains; Chedraui stands out.

Investors are anticipating the release of key economic data and the start of the Q2 earnings season in the United States this week.

Mexican stock markets began the week with gains amid a week full of crucial data. Indices are rising ahead of a testimony from the Federal Reserve chairman and inflation data from Mexico, which is due tomorrow, and the United States, scheduled for Thursday.

The leading index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which includes the most traded local stocks, is up 0.27% at 52,474.24 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), also advances by 0.27% to 1,076.34 points.

Within the benchmark index, most stocks are trading with gains. Shares of Grupo Comercial Chedraui lead the movement with a 2.63% increase to 129 pesos, followed by Kimberly-Clark, up 1.98% to 30.890 pesos. Last week, the index showed little change compared to the previous Friday, staying near recent lows around 52,000 points. Despite the lack of momentum, the positive aspect is the formation of a support level.

Investors are gearing up to receive fundamental data for monetary policy, and they are also looking forward to the start of the Q2 earnings season in the United States. This season will be kicked off by banks such as JPMorgan, Citi, and Wells Fargo.

ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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