Key Facts
The S&P/BMV IPC, Mexico’s benchmark stock index, climbed 1.28% to close at 67,327 points its strongest single-session gain in a week as buyers returned after a cautious start to the week.
The Mexican peso strengthened against the US dollar, with the exchange rate falling 0.54% to 17.34 pesos per greenback as a softer-than-expected US employment cost index eased fears of aggressive Federal Reserve tightening.
A powerful US tech rally, triggered by a blockbuster earnings report from Microsoft, rippled through global markets dragging the S&P 500 up 1.66% and amplifying risk-on sentiment in emerging economies like Mexico.
Mining and metals stocks led the charge, with Grupo México (GMEXICOB) surging 2.5% and Peñoles jumping 2.8% buoyed by strength in copper prices and hopes for a stabilising Chinese construction sector.
