Weekly Mexico Market Monitor

Friday AM, August 25, 2023

MARKETS  

The FTSE-BIVA index closed on August 24 at 1,092.40 down slightly from its August 17 close at 1,09.58. 

The MXN/USD exchange rate closed at 16.83 pesos to the dollar on August 24 down  from its close of 17.11 pesos on August 17.  

The Mexican 10-year bond (2031) closed on Thursday with a yield of 9.256%, down from a yield of 9.288% on August 17.  

The FTSE-BIVA Top Stock Gainers for the week were: PEÑOLES (+9.83%), AXTEL (+4.76%) and HOTELES CITY EXPRESS (+4.72%) and the Biggest Losers were: OHLA (-6.48%), VOLARIS (-6.44%) and GRUPO TELEVISA (-3.86%). 

CORPORATE & MARKET NEWS  

Paramount New Materials, a Chinese company specialized in aluminum casting and extrusion for the automotive sector, announced an investment of US $200 million to develop a plant in Coahuila.

Scala Data Centers, a top Latin American sustainable data center platform in the Hyperscale market, is investing around US$ 80 million to establish its first facility in Tepotzotlán, 25 miles from Mexico City. With an initial capacity of 5MW, this move amplifies Scala's aim to serve the vast needs of major cloud and content providers in Latin America.