Weekly Mexico Market Monitor
Friday AM, September 1, 2023
MARKETS
The FTSE-BIVA index closed on August 31 at 1,089.41 down slightly from its August 24 close at 1,092.40.
The MXN/USD exchange rate closed at 17.02 pesos to the dollar on August 31 up from its close of 16.83 pesos on August 24.
The Mexican 10-year bond (2031) closed on Thursday with a yield of 9.278%, slightly up from a yield of 9.256% on August 24.
The FTSE-BIVA Top Stock Gainers for the week were: OMA (+7.63%), VOLARIS (+7.39%) and ALFA (+5.23%) and the Biggest Losers were: BIMBO (-5.49%), AXTEL (-4.55%) and CUERVO (-4.54%).
CORPORATE & MARKET NEWS
FEMSA announced the merger of Envoy Solutions with BradyIFS to create a new distribution platform for cleaning solutions, disposable products, and packaging in the United States. As a result of the transaction, FEMSA receives approximately US $1.7 billion in cash and will retain an approximate 37% equity interest in the combined entity.
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