In the midst of the escalating war in the Middle East, the Mexican financial markets closed the six-year period in positive numbers, although with moderate gains.
The Price and Quotation Index (IPC) of the Mexican Stock Exchange (BMV) reported a nominal gain of 25.75 percent in the administration of Andrés Manuel López Obrador, going from 41 thousand 732.78 integers on November 30, 2018 to 52 thousand 477.3 yesterday.
The performance of the main Mexican stock index in the last six years was higher than that observed in the previous administration, headed by Enrique Peña Nieto, when a loss of 0.24 percent was recorded, and the profits were below those recorded in the six-year terms of office. Felipe Calderón, Vicente Fox and Ernesto Zedillo, which were 67.59, 341.6 and 118.14 percent, respectively.
Performance poor
Jacobo Rodríguez, information director of Roga Capital, mentioned that the performance of the Mexican stock market in the six-year period that has just ended has been poor compared to other markets.
The Nasdaq, for example, went from 7,330.54 points at the close of November 30, 2018 to 18,184.18 points at the close of September 30, 2024, a gain of 148.06 percent. The S&P 500 offered a return of 108.77 percent in López Obrador’s six-year term and the Dow Jones advanced 65.75 percent.
The Mexican peso closed the six-year term with a gain of 3.68 percent against the dollar, its first appreciation at the end of an administration since Mexico entered the free floating regime.
According to data from Roga Capital, the peso was one of the few currencies that appreciated during the six-year term. During this period, the dollar strengthened across the board, so the DXY index, which measures the behavior of the US currency against a basket of six international currencies, gained 4.3 percent and several Latin American currencies suffered heavy losses.