The Mexican stock market rose in July after a strong advance in the last session of the month.
Compared to a close of 52,440.02 points in June, the S&P/BMV IPC rose by 1.33% in July.
Stock indices rose on the last trading day of July, driven by shares of Industrias Peñoles, which reported strong quarterly results.
Mexico’s stock markets advanced sharply on Wednesday, following the end of their longest losing streak of the year the day before. The indices climbed, propelled by Peñoles’ shares, allowing them to close the month on a positive note.
The benchmark index, S&P/BMV IPC, of the Mexican Stock Exchange (BMV), which tracks the most traded local stocks, gained 1.47% to 53,093.97 points. The FTSE BIVA, of the Institutional Stock Exchange (Biva), registered an advance of 1.28% to 1,084.81 points.
Within the benchmark index, most stocks closed with gains. Shares of Industrias Peñoles stood out with a rise of 7.06% to 272.18 pesos, followed by Banco del Bajío, which gained 5.69% to 55.52 pesos.
The movement in Peñoles’ shares came after the company reported quarterly results that exceeded expectations, driven by significant increases in metal prices.
As a result, the leading BMV index posted a positive performance for the month. Compared to a close of 52,440.02 points in June, the S&P/BMV IPC rose by 1.33% in July.
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