Mexico's equity market closed lower on Friday, with the S&P/BMV IPC ending the session down 1.86% and registering a new one-month low. The decline was broad-based, driven primarily by weakness in the Industrials, Consumer Goods & Services and Consumer Staples sectors.
At the close, Fomento Economico Mexicano UBD (BMV:FEMSAUBD) finished as one of the session's top performers, rising 1.26% - an increase of 2.66 points - to trade at 214.10. Coca-Cola Femsa SAB de CV (BMV:KOFUBL) also closed higher, adding 0.27% or 0.49 points to reach 185.04. Corporacion Inmobiliaria Vesta SAB (BMV:VESTA) recorded a modest gain of 0.19% - 0.11 points - to end at 59.15.
Heavier losses were concentrated in several large-cap names. Industrias Penoles Sab De CV (BMV:PEOLES) plunged 6.63%, or 59.62 points, to close at 839.10. Controladora Vuela Compania de Aviacion SAB de CV (BMV:VOLARA) fell 5.78%, a drop of 0.78 points, to finish at 12.71. Grupo Mexico, S.A.B. De C.V. (BMV:GMEXICOB) declined 4.26%, losing 8.99 points to settle at 202.25.
Market breadth was negative: falling issues outnumbered advancing ones by 153 to 88, while 14 stocks finished unchanged on the Mexico Stock Exchange.
Commodity markets moved notably during the session. Gold Futures for August delivery were down 3.35%, a decline of 151.10, to $4,353.90 a troy ounce. In energy markets, U.S. crude for July delivery dropped 3.00% or $2.79 to $90.25 a barrel. The August Brent contract declined 2.25%, or $2.14, to trade at $92.89 a barrel.
Currency moves showed a weaker peso against major currencies. The USD/MXN rate rose 1.15% to 17.47, while EUR/MXN increased 0.38% to 20.13. On the futures side, the U.S. Dollar Index futures were higher by 0.67%, trading at 100.05.
These price moves combined to weigh on Mexico's equity benchmark at the close, with significant selling concentrated in mining and aviation names even as a few beverage and property stocks delivered small gains.