MARKETS
The FTSE-BIVA index closed on June 22 at 1,105.88, down from its June 15 close at 1,143.08.
The MXN/USD exchange rate closed at 17.19 pesos to the dollar on June 22 up slightly frompts close of 17.12 pesos on June 15.
The Mexican 10-year bond (2031) closed on Thursday with a yield at 8.687% down slightly from a yield of 8.782% on June 15.
The FTSE-BIVA Top Stock Gainers for the week were: ALSEA (+2.0%), CHEDRAUI (+0.99%) and QUALITAS CONTROLADORA (+0.43%) and the Biggest Losers were: AXTEL (-10.11%), REGIONAL (-9.91%) and PEÑOLES (-8.28%).
CORPORATE & MARKET NEWS
Woodside Energy Group, the Australian Energy Group, has decided to jointly develop the Mexican oilfield Trion in the Gulf of Mexico, with Mexico’s state-owned energy company PEMEX. The project is expected to require US $7.2 billion in investment, of which Woodside is expected to contribute US $4.8 billion. The project would be the country’s first ultra deep-water oil project.
Traxión, the fast-growing logistics and transportation company, and major beneficiary of nearshoring, bought BBA Logistics, an asset-light freight brokerage company for US$10 million. The reported valuation was an attractive 2023e EV/EBITDA of 4.5x.
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