The Mexican Stock Exchange ends a streak of five consecutive weekly declines
With a cumulative gain of 1.08%, the Mexican Stock Exchange interrupted a streak of five weeks of losses. This session was affected by the volatility of the expiration of futures and options on stocks and indices.
Mexican stock markets fell sharply on Friday. Local indices retreated at the end of a positive week, during which the main benchmark broke a streak of five consecutive periods of declines.
The leading index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which measures the most traded local stocks, lost 1.02% to 52,788.5 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), dropped 0.93% to 1,080.15 points.
Within the benchmark index, most stocks closed with losses. The mining company Industrias Peñoles led the declines, dropping 7.07% to 239.73 pesos, followed by Televisa, which fell 5.61% to 9.93 pesos.
With a cumulative gain of 1.08%, the local stock market interrupted a five-week losing streak. Friday’s session was affected by the volatility of the expiration of futures and options on stocks and indices, as well as a rebalancing.
Meanwhile, the Global Indicator of Economic Activity (IGAE) registered a 0.9% increase compared to the same month last year. This growth was mainly driven by tertiary activities, which include commerce and services.
In April 2024, economic activity in Mexico advanced by 0.9% compared to the same month of the previous year. This growth was primarily driven by the dynamism in tertiary activities.
The Global Indicator of Economic Activity (IGAE) allows for timely monitoring of the real sector of the economy in the short term, given that GDP measurement is done only quarterly.
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