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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.