Mexico's equity market finished the trading day lower on Friday, with sector-level declines in Industrials, Consumer Goods & Services and Consumer Staples pushing the S&P/BMV IPC down 0.53% at the close.
Certain consumer-branded names outperformed the broader market. Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA) led gains on the index, rising 2.26% or 1.37 points to close at 62.08. Genomma Lab Internacional SAB de CV (BMV:LABB) also advanced, up 1.31% or 0.19 points to finish at 14.67, and Fomento Economico Mexicano UBD (BMV:FEMSAUBD) added 1.19% or 2.61 points to end the session at 221.95.
At the other end of the board, several names posted notable losses. Megacable Holdings, S.A.B. de C.V. (BMV:MEGACPO) recorded the steepest drop among the listed movers, sliding 5.57% or 3.45 points to close at 58.47. Gruma SAB de CV (BMV:GRUMAB) fell 4.00% or 10.76 points to settle at 258.23, a move that brought the stock to a three-year low. Grupo Mexico, S.A.B. de C.V. (BMV:GMEXICOB) declined 2.20% or 4.68 points to finish at 208.29.
Market breadth was slightly negative by count. On the Mexico Stock Exchange, decliners outnumbered advancers 114 to 111, while 16 stocks ended unchanged.
Commodity markets saw notable moves that accompanied the equity activity. Gold Futures for August delivery fell 1.49% or 62.00, closing at $4,098.60 a troy ounce. Energy contracts advanced, with crude oil for September delivery up 3.84% or 3.21 to $86.80 a barrel and the October Brent contract rising 3.22% or 2.80 to trade at $89.68 a barrel.
Foreign exchange and dollar benchmarks showed modest shifts. USD/MXN rose 0.11% to 17.34, while EUR/MXN increased 0.10% to 19.99. The US Dollar Index Futures was down 0.05% at 99.67.
Market snapshot
- S&P/BMV IPC -0.53% at close
- Advancers: Grupo Bimbo (BIMBOA), Genomma Lab (LABB), FEMSA (FEMSAUBD)
- Decliners: Megacable (MEGACPO), Gruma (GRUMAB), Grupo Mexico (GMEXICOB)
- Gold (August) -1.49% to $4,098.60 per troy ounce
- Crude oil (September) +3.84% to $86.80 per barrel; Brent (October) +3.22% to $89.68
- USD/MXN +0.11% to 17.34; EUR/MXN +0.10% to 19.99
The trading day underscored a mix of pockets of strength among consumer-branded names and pressure in industrial, food processing and communications-related stocks. The move in commodities and currency pairs provided additional context for market participants assessing valuations and sector performance heading into the next session.