MARKETS
The FTSE-BIVA index closed on August 3 at 1,102.21 up from its July 27 close at 1,128.77.
The MXN/USD exchange rate closed at 17.34 pesos to the dollar on August 3 down from its close of 16.87 pesos on July 27.
The Mexican 10-year bond (2031) closed on Thursday with a yield of 8.992% down slightly from a yield of 8.886% on July 27.
The FTSE-BIVA Top Stock Gainers for the week were: BECLE (+11.11%), OHLA (+8.71%) and GENTERA (+4.81%) and the Biggest Losers were: BANCO DEL BAJIO (-8.79%), VOLARIS (-7.49%) and AXTEL (-5.71%)
CORPORATE & MARKET NEWS
In a transaction worth more than $1.6 billion pesos, Mapfre, one Spain’s largest insurance companies, will acquire 94% of Insignia Life, a Mexican insurer specializing in Life insurance. Insignia was founded in 2008 and boasts around two million clients (with a portfolio of almost $2 billion pesos in premiums).
Sigma announced it has sold its operations in Italy as part of the comprehensive plan to enhance profitability and growth in Europe. These operations contributed approximately 2% of Sigma’s consolidated revenues in 2022.
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