MARKETS
The FTSE-BIVA index closed on May 25 at 1,114.32 up minimally from its May 18 close at 1,1143.10. The 10.10% year-to-date increase in the FTSE-BIVA compares favorably to S&P500’s 8.12% increase.
The MXN/USD exchange rate closed at 17.85 pesos to the dollar on May 25, up from its close of 17.72 pesos on May 18.
The Mexican 10-year bond (2031) closed on Thursday with a yield at 8.99% up slightly from a yield of 8.78% on May 18.
The FTSE-BIVA Top Stock Gainers for the week were: PROLOGIS (+1.89%), GRUPO SIMEC (+1.58%) and INDUSTRIAS CH (+0.59%) and the Biggest Losers were: AXTEL (-15.15%), MEGA CABLE (-8.01%) and CHEDRAUI (-7.19%).
CORPORATE & MARKET NEWS
Grupo Carso will pay US $125 million to buy a 49.9% interest in Talos Energy Mexico, which owns a 17.4% stake in the Zama oil field. Carso will pay US $75 million when the deal closes and the remainder when Zama's production begins. This suggests CNH approval for the production plan of the Zama field, controlled by Pemex, is imminent.
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