Overview
- Televisa shares plunged roughly 12–14% on Monday after S&P Dow Jones published preliminary results proposing that petrochemical firm Alpek replace the media group in the S&P/BMV IPC.
- The Mexican benchmark closed down 0.21% as Televisa’s drop weighed on the market while Alpek’s stock rose about 1.5–4% on the news.
- S&P/BMV IPC changes are reviewed twice a year and the preliminary decision will be confirmed on September 11 with the new composition set to take effect before trading begins on September 21.
- Analysts say the index methodology gives significant weight to median trading activity, and Televisa’s weaker Q2 figures and reduced liquidity made it vulnerable to exclusion that forces passive funds to mechanically sell holdings.
- Lower trading volume from the U.S. Labor Day holiday and broader geopolitical tensions that lifted oil prices reduced market depth on the announcement day, which likely amplified the price moves and could produce temporary volatility while index funds rebalance.