The Mexican Stock Exchange's IPC index climbed above the 69,000 mark this Friday, fueled by a tech-led rally spearheaded by Intel. The local market posted gains of over 1%, with strong performance seen in the consumer and infrastructure sectors, according to expansion.mx.
In the Mexican market, stocks such as Megacable, Grupo Bimbo, and Gentera advanced between 1% and nearly 3%. Gruma and Grupo Aeroportuario del Pacífico also joined the gains.
On the downside, Sigma Alimentos led the local decline, alongside Genomma Lab and Orbia. In the foreign exchange market, the Mexican peso showed slight appreciation, trading at approximately 17.40 pesos per dollar.
This strengthening of the local currency was supported by reduced volatility in global markets, according to expansion.mx.
In the United States, market sentiment was mixed but leaned positive. The S&P 500 rose 0.3% and the Nasdaq climbed 0.7%, while the Dow Jones slipped 0.4%.
The primary catalyst for this movement was Intel, whose shares skyrocketed nearly 25%. The surge followed quarterly results that projected revenues exceeding expectations.
The company underscored the pivotal role of its chips in the expansion of artificial intelligence, boosting optimism across the tech sector. This sentiment was also influenced by expectations of a new round of talks between the United States and Iran over the weekend.
However, the market has begun to moderate its reaction to these diplomatic headlines. Analysts warn that, despite the dialogue, there are no clear signs of an immediate reduction in tensions.
Additionally, there has been no observed normalization in oil flows from the Gulf. In the energy sector, prices showed divergent trends.
WTI crude fell to $95.25 per barrel, while Brent rose to $105.35. Meanwhile, Mexican crude remained elevated, trading near $97.46 per barrel.
These levels reflect that energy risks remain present in the market, despite the increased appetite for tech assets.
