Mexico's equity market finished lower on Monday, with the S&P/BMV IPC losing 1.79% at the close. The decline was driven largely by weakness in the Industrials, Consumer Goods & Services and Consumer Staples sectors, which led the broader index downward.
Market breadth was tilted toward declines: falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 134 to 98, and 18 issues finished unchanged.
Top and bottom movers
Among individual names, Banco Del Bajio SA Institution De Banca Multiple (BMV:BBAJIOO) was the session's best performer, advancing 2.09% - a gain of 1.14 points - to close at 55.73. Megacable Holdings, S.A.B. De C.V. (BMV:MEGACPO) added 1.15% or 0.69 points to end the day at 60.68. Gentera SAB de CV (BMV:GENTERA) also posted a modest advance of 0.23% - up 0.11 points to 47.15.
At the other end of the board, airport and media-related stocks were among the largest decliners. Grupo Aeroportuario del Pacifico SAB De CV Class B (BMV:GAPB) fell 4.85% - down 22.62 points - to trade at 443.90 at the close. Grupo Aeroportuario Del CentroNorte (BMV:OMAB) declined 4.49% or 11.40 points to finish at 242.42, and Grupo Televisa SAB Unit (BMV:TLEVISACPO) lost 4.30% - a drop of 0.46 points - to end at 10.24.
Commodities and FX
In commodity markets, Gold Futures for June delivery retreated 0.91%, shedding 43.20 to settle at $4,697.70 a troy ounce. Energy prices diverged: crude oil for June delivery rose 2.42%, gaining 2.28 to reach $96.68 a barrel, while the July Brent contract inched up 0.27% or 0.28 to trade at $102.16 a barrel.
On the foreign exchange front, USD/MXN moved up 0.04% to 17.38 and EUR/MXN increased 0.06% to 20.38. The US Dollar Index Futures was quoted down 0.04% at 98.33.
The session's results left the benchmark lower with clear sector concentrations in the drivers of the move, and notable volatility across commodities and individual large-cap names.