The Mexican Stock Exchange (BMV) makes marginal gains, but closes its second consecutive week in decline.
For the week, the market posted its second consecutive decline. The S&P/BMV IPC fell by 0.41%.
Investors are anticipating the start of the local quarterly earnings season on Tuesday, with reports from América Móvil and Grupo Bolsa Mexicana de Valores.
Mexico’s stock markets closed the week with marginal gains. The indices ended the session almost flat after a slight profit-taking at the opening, which was absorbed as the day progressed.
The benchmark index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most traded local stocks, rose a marginal 0.01% to 52,395.66 points on Friday. The FTSE BIVA, of the Institutional Stock Exchange (Biva), advanced 0.04% to 1,076.15.
Within the reference index, mixed performances were observed. Notable gainers included Banco del Bajío, which rose 3.45% to 44.07 pesos, and Grupo México, up 3.26% to 112.39 pesos. On the downside, Orbia had the worst performance, falling 3.59% to 20.39 pesos.
Shares of construction-related companies were also among the biggest losers, following a report showing a 3.7% monthly decline in their activity in August, reaching a low not seen since September 2023. Alongside Orbia, GCC dropped 1.76% to 150.62 pesos.
For the week, the market posted its second consecutive decline. The S&P/BMV IPC fell by 0.41%. Investors are now looking ahead to the local earnings season, which kicks off on Tuesday with reports from América Móvil and Grupo Bolsa Mexicana de Valores.
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