Mexico IPC Slips 0.2% as Peso Gains 0.8% | Mexico Market Report, Oct 2
Mexico's S&P/BMV IPC fell 0.18% to 63,712.24 on Friday as the peso strengthened 0.83% against the dollar after weak US jobs data. The post Mexico IPC Slips 0.2% as Peso Gains 0.8% | Mexico Market Report, Oct 2 appeared first on The Rio Times .
On October 2, Mexico's S&P/BMV IPC fell 0.18% to 63,712.24 points, while the peso strengthened, gaining 0.83% as the dollar closed at 18.145 pesos. The weaker dollar, resulting from the U.S. Bureau of Labor Statistics reporting only 29,000 jobs added in September and unemployment rising to 4.2%, helped the peso. However, Mexican shares did not follow the peso's gain, with the IPC lagging behind both Brazil and Wall Street.
The IPC closed 11% below its 52-week high. Mining and telecoms companies led the gains, with Grupo México up 3.71%, América Móvil 1.95%, and Banorte 1.73%. The weaker peso reduces foreign investors' returns on Mexican assets and could raise import costs for local companies, potentially leading to higher inflation.
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