Mexican Market Rises 1.04% as Financials Surge and Peso Strengthens Against Dollar

The Mexican stock market closed with significant gains on Tuesday, May 13, 2025, as the benchmark S&P/BMV IPC index rose 1.04% or 591.96 points to 57,357.54.

This performance extends the robust year-to-date increase of 15.76% for Mexican equities. Financial sector stocks led the rally, with Grupo Financiero Inbursa jumping 4.04% to 51.76 pesos, emerging as the day’s top gainer.

Industrias Penoles followed with a 3.55% increase to 401.23 pesos, while Grupo Financiero Banorte climbed 3.17% to 169.41 pesos. Kimberly-Clark de México and Genomma Lab Internacional rounded out the top performers, gaining 1.60% and 1.07% respectively.

Megacable Holdings recorded the steepest decline, falling 2.75% to 52.33 pesos. Other notable losers included Becle SA, down 1.86% to 24.86 pesos, and Corporacion Inmobiliaria Vesta, which dropped 1.56% to 53.74 pesos.

Market breadth remained positive as advancing stocks outpaced decliners by 129 to 108, with 12 issues unchanged. The Mexican peso strengthened considerably against the US dollar, with USD/MXN falling 1.09% to 19.4222, marking its strongest position since October 2024.

This peso appreciation came as traders positioned ahead of the Bank of Mexico’s interest rate decision scheduled for Thursday, when analysts widely expect another 50-basis-point cut to 8.50%.

Mexican IPC Index Maintains Bullish Momentum

Technical analysis of the IPC index reveals bullish momentum. The price currently trades well above both 50-day and 200-day moving averages, with the 50-day SMA showing a 10.37% positive deviation.

The RSI indicates strong but not yet overbought conditions, while MACD continues to signal positive momentum. Volume increased alongside price gains, confirming buyer conviction.

Broader market context shows the Mexican stock market outperforming many global peers in 2025. The IPC trades at a P/E ratio of 12.56, considered fair against its five-year average range of 11.63 to 13.73, significantly lower than the global average P/E of 21.83.

Energy emerged as the strongest sector in recent trading, showing an 11.36% gain, while Utilities lagged with a 3.79% decline. Commodity price increases also supported market sentiment, with Gold up 0.82% and crude oil rising 2.73%.

Looking ahead, analysts project the IPC could reach 55,629.40 by quarter-end, suggesting some potential pullback. Investors remain focused on Thursday’s Banxico decision and continue monitoring trade relations with the United States amid ongoing USMCA review discussions expected to begin later this year.

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