Mexico Markets: IPC & the Peso — August 14, 2026
Key Facts
- The S&P/BMV IPC Mexico’s main stock index, fell 1.41% to 64,826, dragged down by mining and airport shares.
- The peso the Mexican currency, strengthened 0.17% to 17.0293 per US dollar, its best level since 2024.
- Wall Street the US market, hit new highs after a softer-than-expected producer inflation report reduced pressure on the Federal Reserve.
- Losers outpaced winners with Peñoles down 3.3%, Carso down 3.2% and ASUR down 2.7%, while Alpek gained 3.0%.
- Trading was focused on America Móvil, the most traded name with $137 million in volume and a 0.2% gain.
Today’s Focus
Mexico’s S&P/BMV IPC index, the broad gauge of the country’s largest listed companies, fell 1.41% to close at 64,826 on Thursday.
The decline came as the peso strengthened to 17.0293 per dollar, its strongest level since 2024, and as US inflation data lifted Wall Street while Mexico’s heavyweight mining stocks fell.
The IPC remains 9.5% below its 52-week high of 71,601, with a 52-week range of 58,132 to 71,601.
Traders will watch whether the peso’s strength persists, which could pressure Mexican exporters further.
What matters today. The divergence between Mexico’s falling stock index and rising peso shows the strength of the currency is compressing margins for exporters and miners.
01 The session in one read
Mexico’s S&P/BMV IPC index, the benchmark for the largest companies listed on the Bolsa Mexicana de Valores, fell 1.41% to close at 64,826 on Thursday. That put the index 9.5% below its 52-week high of 71,601.
The peso, Mexico’s currency, strengthened 0.17% to 17.0293 per US dollar, its best level since 2024 and within touching distance of the psychologically important 17.00 level.
The day’s weakness in Mexican stocks was concentrated in mining and airport operators. Peñoles, the precious metals miner, fell 3.3%, while airport group ASUR dropped 2.7%.
America Móvil, the telecoms giant controlled by Carlos Slim, was the most traded name with $137 million in volume and a modest 0.2% gain.
The data clearly shows a market where a stronger currency is hurting the most globally exposed Mexican companies. Mining shares like Peñoles and Grupo México fell sharply, while the peso’s gain to 17.03 per dollar is making Mexican exports pricier abroad. The key variable to watch is whether the peso can hold below the 17.00 mark, which would add further pressure on export-heavy sectors.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| S&P/BMV IPC | 65,336 | −0.64% | 52-week range: 58,132–71,601 |
| USD/MXN | 17.0293 | -0.17% | 52-week range: 17.03–18.74 |
| S&P 500 | 7,799 | +0.65% | New 52-week high |
| Nasdaq | 26,803 | +0.81% | Tech leads US gains |
| VIX | 14.63 | +0.55% | US volatility gauge ticks up |
| Gold | $4,357/oz | -1.29% | Precious metals slip |
| Silver | $64.5542/oz | -1.14% | Follows gold lower |
The IPC’s 1.41% decline stands in contrast to the S&P 500’s 0.65% gain, which took the US benchmark to a fresh all-time high of 7,799.
Gold and silver both fell, which helps explain the weakness in Mexico’s mining-heavy index. Rio Times · Live Market Intelligence
Live Market IntelligenceMexico — Live Market Board
Mexico — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
IPC MEX
64,214.36
-1.38%
+12.17%
65,110.57
66,121
65,405
108,886,187
USD/MXN
17.06
-0.24%
-8.58%
17.10
17.08
17.01
—
WALMEX
48.07
-0.62%
-14.38%
48.37
48.65
48.02
10,781,446
GMEXICO
223.28
+0.35%
+73.59%
222.50
226.18
222.17
1,325,556
FEMSA
201.19
-0.24%
+25.67%
201.67
206.71
199.56
750,706
CEMEX
19.32
+0.89%
+19.10%
19.15
19.35
19.04
14,327,054
GFNORTE
193.98
+1.18%
+14.36%
191.71
195.79
191.83
1,579,115
BIMBO
60.98
-0.96%
+11.89%
61.57
61.46
60.29
1,048,115
TELEVISA
9.71
+0.21%
+12.78%
9.69
9.75
9.60
577,851
AMX
19.80
-0.95%
+12.53%
19.99
20.05
19.70
58,058,525
GAP
366.23
+0.43%
-21.21%
364.68
370.85
362.82
226,946
ASUR
275.04
+1.25%
-15.28%
271.64
275.08
271.31
15,451
OMA
233.50
+0.62%
-6.48%
232.06
235.00
230.62
555,693
KOF
188.04
+0.86%
+18.94%
186.44
188.56
185.52
425,273
GRUMA
252.90
+0.11%
-21.85%
252.61
254.74
250.36
90,048
KIMBER
39.74
+0.43%
+8.85%
39.57
40.09
39.33
490,551
AMX ADR
23.38
-0.23%
+22.25%
23.43
23.49
23.06
1,347,445
03 Why it moved — miners and peso strength
The session’s main story was the divergence between Mexico’s stock market and both the peso and US equities.
A softer-than-expected US producer inflation report weakened the dollar, pushing the peso to 17.0293 per dollar. A stronger peso makes Mexican exports pricier in foreign markets, squeezing the profit margins of exporters and miners.
Mining stocks bore the brunt of the selling. Peñoles fell 3.3%, Grupo México dropped 2.2%, and the broader materials sector was among the weakest in the session.
Airport operators also struggled. ASUR fell 2.7% and GAP dropped 2.4%, possibly reflecting investor caution about tourism-related revenues with the peso at multi-month highs.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| America Móvil (AMXB) | $137m turnover | +0.2% | Most traded name of the day |
| Peñoles (PE&OLES) | $17m turnover | -3.3% | Biggest loser of the session |
| Grupo México (GMEXICOB) | $40m turnover | -2.2% | Copper miner slips |
| Walmex (WALMEX) | $39m turnover | -1.9% | Retailer under pressure |
| Cemex (CEMEXCPO) | $19m turnover | -1.4% | Cement maker falls |
| Alpek (ALPEKA) | — | +3.0% | Top gainer of the session |
| Volaris (VOLARA) | — | +2.0% | Airline gains |
| ASUR (ASURB) | — | -2.7% | Airport operator slides |
| GAP (GAPB) | $15m turnover | -2.4% | Airport group falls |
| Carso (GCARSOA1) | — | -3.2% | Slim conglomerate drops |
America Móvil was the most traded name with $137 million in turnover and a 0.2% gain, showing that liquidity remained concentrated in the telecoms giant even on a down day.
The worst damage was in materials and travel infrastructure. Peñoles, Grupo México, ASUR and GAP all fell more than 2%, while Alpek and Volaris were the rare bright spots.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| S&P/BMV IPC | Mexico | −0.64% |
| Ibovespa | Brazil | -0.23% |
| IPSA | Chile | +0.16% |
| Merval | Argentina | +0.04% |
| COLCAP | Colombia | +0.07% |
| BVL Perú | Peru | -1.21% |
Mexico was the weakest of the major Latin American markets on Thursday, with the IPC’s 1.41% decline outpacing Brazil’s 0.23% fall and Peru’s 1.21% slump.
Chile, Argentina and Colombia all posted small gains, as the region’s performance reflected country-specific dynamics rather than a single regional trend.
06 The technical picture
The IPC’s close at 64,826 leaves it comfortably above its 52-week low of 58,132 but 9.5% below its high of 71,601.
The index is trading in the lower half of its annual range, and the 65,000 level now looks like an important support floor to watch.
USD/MXN at 17.03 sits exactly at its 52-week high for the peso, meaning the 17.00 level is the key technical marker.
A sustained break below 17.00 would signal further peso strength and likely more pressure on exporters and miners.
07 What to watch
- USD/MXN 17.00 level: Whether the peso can break below 17.00 per dollar, which would add further pressure on export-heavy Mexican stocks.
- Mining sector weakness: The metals complex is falling, hitting names like Peñoles and Grupo México; watch for stabilization in gold and silver.
- IPC 65,000 support: The index closed at 64,826, having broken below the 65,000 support level, now the key marker to monitor in the next session.
- US retail sales data: Friday’s US retail sales report could move the dollar and by extension the peso and Mexican equities.
Background: Mexico’s Industrial Production Grew 1.7% in June, but the Half Was Flat.
Background: Mexico’s Foreign Direct Investment Climbs 10.4% as Nearshoring Holds Up.
IPC — More: Mexico news in English, every day from The Rio Times.
Frequently Asked Questions
What is the S&P/BMV IPC?
The S&P/BMV IPC is Mexico’s main stock market index, tracking the performance of the largest and most liquid companies listed on the Bolsa Mexicana de Valores.
Why did Mexican stocks fall on August 13?
The IPC fell 1.41% as mining stocks like Peñoles and Grupo México dropped, while a stronger peso at 17.03 per dollar pressured exporters.
Why is the peso gaining against the dollar?
A softer-than-expected US producer inflation report weakened the dollar, pushing USD/MXN to 17.03, its best level since 2024.
What was the most traded Mexican stock?
America Móvil was the most traded name with $137 million in turnover, gaining 0.2% on the session.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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