Mexico's stock market closed in negative territory on Wednesday as sector-level weakness pushed the benchmark lower. The S&P/BMV IPC ended the session down 0.26% at the close, with losses led by Industrials, Consumer Goods & Services and Consumer Staples.
Top performers
- Wal Mart de Mexico SAB de CV (BMV:WALMEX) was the session's strongest large-cap, advancing 4.00% or 2.13 points to finish at 55.40.
- GCC SAB de CV (BMV:GCC) gained 2.66% or 5.29 points to end the day at 203.96.
- Grupo Bimbo, S.A.B. De C.V. (BMV:BIMBOA) rose 1.70% or 0.91 points to close at 54.46.
Largest decliners
- Megacable Holdings, S.A.B. De C.V. (BMV:MEGACPO) led losses, dropping 4.53% or 2.77 points to 58.35 at the close.
- Kimberly - Clark De Mexico A (BMV:KIMBERA) fell 3.71% or 1.52 points to finish at 39.47.
- Qualitas Controladora, SAB De CV (BMV:Q) declined 3.14% or 5.56 points to end at 171.28.
Market breadth was mildly positive in terms of stock counts: rising issues outnumbered decliners 126 to 115, while 10 stocks were unchanged on the day. Despite that, the weighting of declines in key sectors was sufficient to push the headline index into negative territory.
Commodities and currencies
On the commodity front, June Gold Futures moved lower, dropping 1.11% or 51.10 to trade at $4,557.30 a troy ounce. Energy contracts saw strength: crude oil for June delivery rose 8.57% or 8.56 to $108.49 a barrel, while the July Brent contract climbed 1.39% or 1.55 to $113.40 a barrel.
Currency pairs involving the peso were effectively unchanged in the session. USD/MXN was flat, up 0.01% at 17.53, and EUR/MXN showed no change at 20.46. The US Dollar Index Futures traded higher, up 0.36% at 98.84.
Overall, the session combined selective gains among retail and food producers with notable declines in cable, consumer staples and insurance-related names, producing a slightly negative finish for the S&P/BMV IPC.