Mexico Stocks Slip From Record After Fed Cut and Weak IPO Debut
A weak IPO debut weighed on Mexican shares following a U.S. rate cut.
Overview
- Mexico’s S&P/BMV IPC fell 0.44% to 61,323.95 and the FTSE BIVA lost 0.54% to 1,228.99, halting a three-session advance after setting a record earlier in the week.
- The Federal Reserve cut rates by 25 basis points to 4.00%–4.25% and signaled the possibility of two more moves this year, a decision that lifted major U.S. indexes during the session.
- Grupo Nutrisa slumped 11.06% to 5.51 pesos in its BMV debut, contributing to broader losses on the Mexican market.
- Large caps underperformed by the close, including Televisa (-3.50% to 9.98 pesos), Peñoles (-3.15% to 711.01) and Vesta (-1.81% to 48.64).
- Vector Casa de Bolsa’s Georgina Muñiz Sánchez described the decline as a potential pause in an overbought market, with upside targets around 62,500–63,000 points if the uptrend resumes.