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The Mexican stock market recorded a decline of 3.46% in October.

The domestic stock market declined for the third consecutive day, further widening its monthly losses after a mixed local earnings season.

Mexican stock exchanges closed with losses on Thursday. Local stock indices fell for the third straight day, expanding the accumulated loss in October following a mixed quarterly earnings season.

The benchmark index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, lost 0.42% to close at 50,661.05 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), decreased by 0.37% to 1,042.33 points.

Within the benchmark index, most stocks closed lower. Notable declines included Becle, the producer of José Cuervo, down 3.77% to 26.3 pesos, Grupo México, which fell 3.15% to 104.69 pesos, and Coca-Cola Femsa, down 2.74% to 166.52 pesos.

The Mexican stock market has recorded three consecutive days of losses, with the local exchange suffering declines in eight of the last ten sessions. In October, the benchmark index fell 3.46%, coinciding with mixed quarterly results.

The Mexican peso regained some ground on the last trading day of October but closed the month with significant accumulated losses. The local currency advanced during the session due to a weakening dollar but remained pressured around the psychological level of 20 pesos.

The exchange rate ended the day at 20.0109 pesos per dollar. Compared to yesterday’s official close of 20.1695 pesos, data from Banco de México (Banxico) indicated a recovery of 15.86 cents, or 0.79%.

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ABOUT THE AUTHOR See More
Ignacio Teson
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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