Mexican markets began Christmas week with joy

The bullish streak in the Mexican markets on Christmas Eve took stocks to a new all-time high (with preliminary data) and prolonged the appreciation of the exchange rate against the dollar.

The Price and Quotation Index (IPC) of the Mexican Stock Exchange (BMV) recorded a daily gain of 1.27 percent to close at a historical level of 64,778.18 units.

The main Mexican stock index was boosted by one of this year’s star stations, Peñoles, which gained 7.2 percent this Monday, and Grupo México, with an advance of 3.87 percent, amidst historical highs recorded by metals, including gold and silver.

Meanwhile, the Mexican peso showed a daily appreciation of 0.1 percent against the US currency to close at 17.9816 units per dollar. spot.

Investors dedicated to making speculative bets in the Chicago futures market (CME) continued to pay their positions in favor of an appreciation of the Mexican peso, which reached their best level since June 2024, amid a macroeconomic context that remains favorable for the national currency.

The positions, which have been maintained for almost a month with a long net balance – that is, anticipating a strengthening of the Mexican currency – rose 12.39 percent this week compared to the previous record, as disclosed by Investing, based on data from the CME, considered a thermometer of investor sentiment.

While gold reached new highs, the dollar was weak. The DXY index, which measures the behavior of the US currency against a basket of six currencies, fell 0.32 percent this Monday, to 97.94 units.

Oil rises

The increases reached another asset that is especially sensitive to geopolitical tensions: oil.

The price of a barrel of North Sea Brent for delivery in February rose 2.65 percent, to $62.07. Its US counterpart, the West Texas Intermediate (WTI) for delivery in February, on its first day of use as a reference contract, gained 2.64 percent and was quoted at $58.01, pending alerts from Venezuela and the Middle East.

Portfolio adjustments in variable income are conditioned in part to the consolidation of increases in debt interest. Financing costs avoid cuts and the required profitability of the 10-year United States bond repeats at 4.165 percent.

Wall Street operated with gains: the Dow Jones rose 0.47 percent; the Nasdaq 0.52, and the S&P 500, 0.64 percent.