BMV on edge: CPI falls slightly; Mexico City stocks mixed

The Mexican Stock Exchange (BMV) experienced a volatile day on Tuesday, June 10, 2025, with its main indicator, the S&P/BMV IPC, closing with a slight loss of 0.43%, reflecting mixed sentiment in the financial heart of Mexico City.

The Mexican Stock Exchange (BMV), the main financial benchmark for Mexico City and the country, experienced a day of mixed movements and caution on Tuesday, June 10, 2025. The S&P/BMV IPC, its benchmark index, closed trading with a 0.43% drop, standing at 57,813.38 points. Trading volume stood at 106,858,778 shares traded.

The slight decline in the main stock market index reflects an environment of expectation among investors, who are weighing various local and international factors. Despite the overall decline, individual stock performance was varied, reflecting the market's selectivity.

The negative trend was replicated in other major Mexican market indices. The S&P/BMV INMEX®, which represents the most liquid companies in the Mexican stock market, fell 0.50%, while the S&P/BMV IPC CompMx®, which offers broader coverage of the stock market, fell 0.42%. These figures suggest widespread caution among investors.

Within the market, some broadcasters managed to stand out for their progress, while others suffered significant setbacks:

Retail giant Wal-Mart de México (WALMEX V) was one of the bright spots of the session, posting a 1.08% gain, closing at 64,490 pesos per share. This performance could be linked to the perception of resilience in the consumer staples sector.

On the other hand, Grupo Financiero Inbursa (GFINBUR O) shares fell 3.51% to 47,620 pesos. The financial sector in general showed weakness, as indicated by the decline in the S&P/BMV IPC COMPMX FINAN® (-0.24%).

América Móvil (AMX L), although its ADR is listed in New York, is a benchmark in the Mexican market and saw a 0.83% drop.

Sector performance offered interesting nuances. The S&P/BMV IPC COMPMX CONSUMO NON-BASICO® index (which includes discretionary goods and services) gained 0.23%. In contrast, the S&P/BMV IPC COMPMX CONSUMO FRECUENTE® index (which includes companies that sell basic necessities) fell 0.81%. This divergence, despite the strong performance of Walmex (which belongs to the frequent consumption sector), could indicate a redistribution of flows or specific concerns about profitability in the mass consumption sector amid an inflationary outlook. The telecommunications sector also posted a considerable decline, with the S&P/BMV IPC COMPMX TELECOMUNICACIONES® losing 1.15%.

The caution on the Mexican Stock Exchange (BMV) can be attributed to a combination of factors. At the local level, persistent inflation (4.42% annually in May according to INEGI) and expectations about future interest rate decisions by the Bank of Mexico are keeping markets on edge. Furthermore, the political environment, with discussions about structural reforms such as the judicial reform, could also generate nervousness among investors.

At the international level, the global economy, decisions by the US Federal Reserve, and geopolitical events can generate waves of volatility that impact emerging markets like Mexico. The interconnectedness is clear, and movements in international stock markets often have an impact on economic activity based in Mexico City.

In a market environment like the current one, characterized by uncertainty, analysts often recommend that investors remain cautious, diversify their portfolios, and pay close attention to the fundamentals of the companies they invest in. Volatility can present both risks and opportunities, but informed decision-making is crucial.

The performance of the Mexican Stock Exchange in the coming days will continue to be a key indicator of confidence in the Mexican economy and, therefore, in business activity centered in Mexico City.