Mexico's equity market ended Wednesday in negative territory, with the S&P/BMV IPC slipping 0.90% to register a new one-month low. Sector-level weakness in Industrials, Consumer Goods & Services and Consumer Staples was the primary force behind the retreat.
At the close, the benchmark index reflected selling pressure across a broad swath of the market. Declining issues outnumbered advancing ones by 139 to 90 on the Mexico Stock Exchange, while 14 shares finished unchanged.
Among the day's strongest performers on the S&P/BMV IPC were Grupo Carso, S.A.B. De C.V. (BMV:GCARSOA1), which climbed 4.68% or 6.11 points to finish at 136.66; Grupo Bimbo, S.A.B. De C.V. (BMV:BIMBOA), which added 2.10% or 1.17 points to close at 56.78; and Fomento Economico Mexicano UBD (BMV:FEMSAUBD), up 1.08% or 2.30 points to end the session at 215.58.
On the downside, Gentera SAB de CV (BMV:GENTERA) led losses with a 5.95% drop, sliding 2.29 points to 36.20 at the close. Industrias Penoles Sab De CV (BMV:PEOLES) declined 3.53% or 28.65 points to 784.01, while Controladora Vuela Compania de Aviacion SAB de CV (BMV:VOLARA) fell 3.08% or 0.40 points to 12.58.
The session also produced notable intraday milestones: shares of Gentera fell to 52-week lows, closing at 36.20 following the 5.95% decline, while Fomento Economico Mexicano UBD rose to 52-week highs, finishing at 215.58 after gaining 1.08%.
Commodity markets moved sharply in tandem with the equity declines. Gold futures for August delivery were down 4.49% - a fall of $192.30 - settling at $4,094.10 per troy ounce. Energy contracts diverged, with July crude oil rising 4.06% or $3.58 to $91.78 a barrel, and the August Brent contract edging up 0.07% or $0.07 to $94.82 a barrel.
Currency and futures indicators showed modest strength in the dollar. USD/MXN ticked higher by 0.16% to 17.43, while EUR/MXN increased 0.11% to 20.09. The US Dollar Index Futures rose 0.15% to 100.04.
Overall, Wednesday's session reflected a market grappling with sector-specific selling that outweighed gains in a few large caps. Market breadth, the slide to a one-month low for the S&P/BMV IPC, and pronounced commodity moves were the day's defining elements.
Market snapshot
- S&P/BMV IPC -0.90%, closing at a one-month low
- Decliners 139 | Advancers 90 | Unchanged 14
- Top gainers: GCARSOA1 +4.68%; BIMBOA +2.10%; FEMSAUBD +1.08%
- Top losers: GENTERA -5.95%; PEOLES -3.53%; VOLARA -3.08%
- Gold (Aug) -4.49% to $4,094.10/oz; Crude (Jul) +4.06% to $91.78/bbl; Brent (Aug) +0.07% to $94.82/bbl
- USD/MXN 17.43 (+0.16%); EUR/MXN 20.09 (+0.11%); US Dollar Index Futures 100.04 (+0.15%)