The Mexican stock market advanced on Friday, but posted a significant weekly decline.

Mexico’s stock markets closed the week with overall losses. The main domestic indices fell at the start of the earnings season and as attention focused on the U.S. elections.

The main index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most traded local stocks, rose 1.20% in the session to 53,678.52 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), gained 1.26% to 1,100.34 points.

However, for the week, the indices posted declines. The S&P/BMV IPC dropped 2.32% from last week’s close of 54,953.11 points, while the FTSE BIVA fell 2.30% from 1,100.34 points.

In the session, the positive movement was led by Banco del Bajío, which rose 3.92% to 57.24 pesos, and Coca-Cola Femsa, which fell 3.58% to 160.22 pesos, after releasing their quarterly earnings reports.

In other news, Ukrainian President Volodymyr Zelensky confirmed a phone conversation with the Republican presidential candidate, Donald Trump.

Trump stated on Friday that he spoke with Zelensky and promised that if he returns to the White House, he will “end the war” between Ukraine and Russia.

“As your next President of the United States, I will bring peace to the world and end the war that has claimed so many lives and devastated countless innocent families,” the former president wrote on his platform Truth Social, without specifying how he would achieve this.

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.

Related Articles