Mexico's equity market closed the trading day in negative territory on Monday, with the S&P/BMV IPC finishing down 0.85% following broad weakness across several cyclical and consumer-oriented sectors.
Sector performance was led lower by losses in Industrials, Consumer Goods & Services and Consumer Staples, which collectively weighed on the benchmark at the close. By market breadth, decliners outnumbered advancers, with 138 stocks ending lower, 110 advancing and 13 unchanged on the Mexico Stock Exchange.
Top movers
Among constituents of the S&P/BMV IPC, Orbia Advance Corporation SAB de CV (BMV:ORBIA) was the session's strongest performer, gaining 3.83% - a rise of 0.80 points to finish at 21.71. Promotora y Operadora de Infraestructura SAB de CV (BMV:PINFRA) rose 3.35%, adding 9.27 points to close at 285.87. Beverage and spirits company Becle SA (BMV:CUERVO) also ended higher, up 1.14% or 0.16 points to 14.23.
Largest declines
On the downside, Regional SAB de CV (BMV:RA) posted the steepest fall, sliding 4.95% or 7.28 points to close at 139.92. Cemex SAB de CV (BMV:CEMEXCPO) retreated 3.03%, a drop of 0.65 points to 20.80. Banco Del Bajio SA Institution De Banca Multiple (BMV:BBAJIOO) declined 2.82%, down 1.54 points to 53.14.
Commodities and currencies
Commodity markets displayed mixed moves during the session. Gold futures for June delivery fell 2.41%, a decline of 112.10, settling at 4,532.40 per troy ounce. Crude oil for June delivery rose 3.14% or 3.20 to reach 105.14 a barrel, while the July Brent contract increased 0.32% or 0.36 to trade at 114.18 a barrel.
On the foreign exchange front, the USD/MXN pair was effectively unchanged, edging 0.02% to 17.51. EUR/MXN moved slightly higher by 0.07% to 20.48. The US Dollar Index Futures (DX) was up 0.35%, quoted at 98.35 at the time reported.
This session's action left the S&P/BMV IPC lower by 0.85% at the close, with sector-level weakness and select large-cap moves driving the downward pressure. Market participants saw divergences across commodities and currency rates that accompanied the equity moves.