Mexico's equity market finished the session lower on Wednesday, with declines in several key sectors pulling the S&P/BMV IPC down 0.10% at the close. Sector pressure came mainly from Industrials, Consumer Goods & Services and Consumer Staples, which collectively outweighed advances among some major stocks.
On an individual-stock basis, Grupo Mexico, S.A.B. De C.V. (BMV:GMEXICOB) was the strongest performer among S&P/BMV IPC components, rising 1.10% - a gain of 2.14 points - to close at 196.37. America Movil SAB de CV M (BMV:AMXB) also posted a positive move, adding 0.96% or 0.22 points to end the day at 23.18. Grupo Aeroportuario Del CentroNorte (BMV:OMAB) advanced 0.76%, up 1.79 points to 236.19 in late trade.
At the other end of the tape, Controladora Vuela Compania de Aviacion SAB de CV (BMV:VOLARA) led decliners, sliding 6.69% or 1.06 points to finish at 14.79. Gentera SAB de CV (BMV:GENTERA) fell 2.27%, a drop of 0.90 points to 38.74, while Megacable Holdings, S.A.B. De C.V. (BMV:MEGACPO) lost 1.68%, down 1.04 points to 60.86.
Market breadth favored losers: falling issues outnumbered advancing ones on the Mexico Stock Exchange by 129 to 92, with 10 stocks unchanged at the close.
Commodities showed divergent moves during the session. Gold Futures for August delivery declined 1.70%, a decrease of 70.85, to trade at $4,086.55 a troy ounce. In energy markets, crude oil for August delivery rose 6.13% or 4.32 to reach $74.76 a barrel, while the September Brent contract inched up 0.09% or 0.07 to trade at $79.33 a barrel.
Foreign exchange rates were mixed. The USD/MXN pair was unchanged at 17.58, while EUR/MXN increased 0.10% to 20.08. The US Dollar Index Futures was up 0.08% at 100.86, reflecting a modest appreciation in the greenback on futures markets.
This session’s price action leaves the benchmark marginally lower after losses concentrated in several consumer and industrial segments, offset in part by strength in select large-cap miners, telecommunications and airport operators.