Markets
The FTSE-BIVA index closed on April 13 at 1,132.61, varying only slightly from its March 30 close at 1,123.89. The +11.90% year-to-date increase in the FTSE-BIVA compares favorably to S&P500’s +7.99% increase.
The MXN/USD exchange rate closed at 18.02 pesos to the dollar on April 13, from 18.58 pesos on March 30 at 18.10.
The Mexican 10-year bond (2031) closed on Thursday with the yield at 8.85% from 8.926% on March 23.
The FTSE-BIVA Top Stock Gainers for the week were: VOLARIS (+11.81%), CEMEX (+9.37%) and PROLOGIS (+8.25%) and the Biggest Losers were: BACHOCO (-4.39%), CUERVO (-3.41%) and ASUR (-3.28%).
Corporate & Market News
Iberdrola sold 13 power plants to a trust managed by Mexico Infrastructure Partners but owned and financed by Mexican government entities for US$ 6 billion, 77.6% of the company’s Mexican assets. The move will boost the effective market share of the Federal Commission of Electricity, which will operate the plants, the majority of which are located in Tamaulipas, Nuevo León, Durango, Sinaloa and Baja California. Despite the sale, Iberdrola has maintained that it is not leaving Mexico but instead will focus on renewable energy generation.
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