Mexican market reaches a new all-time high

Clara Zepeda

La Jornada Newspaper, Tuesday, September 9, 2025, p. 19

Driven by the slowdown in the US labor market reported on Friday and by increased bets on rate cuts by the Federal Reserve (Fed), and in anticipation of the 2026 Economic Package in Mexico, the national stock market reached a new all-time high, while the Mexican peso extended its gains against the dollar.

The Mexican Stock Exchange's (BMV) Price and Quotation Index (IPC) gained 0.28 percent yesterday to close at 60,649.76 points, an unprecedented level in its nearly 47 years and the sixth this year.

With this move, the main stock index has accumulated a 1.9 percent gain in September and a 22.17 percent gain so far in 2025.

Within the IPC, 19 of the 36 companies included in the index closed in positive territory. The largest gainers were Qualitas (3.68 percent); Peñones (2.29 percent) and Orbia (1.93 percent). On the negative side, Televisa, Controladora Alpek, and Cuervo were the most backward.

The Mexican currency registered a daily appreciation of 0.30 percent, to 18.6587 pesos per spot dollar, amid the weakness of the US currency, accumulating an appreciation against the dollar of 9.56 percent in 2025.

According to data from the Bank of Mexico, the exchange rate ranged from a high of 18.6900 units to a low of 18.6240 units.

Last night, the Ministry of Finance delivered the 2026 Economic Package, which highlights the economic policy criteria, the cost of debt, and public deficit plans.

Meanwhile, at the close of trading on the New York Stock Exchange, the Nasdaq advanced 0.21 percent to a record high of 45,798.70 points; the S&P 500 rose 0.21 percent to 6,495.15 points; and the Dow Jones Industrial Average gained 0.25 percent to 45,514.95 points.

Earlier, on Asian stock markets, the Nikkei in Tokyo stood out, rising 1.5 percent, following the resignation of Japanese Prime Minister Shigeru Ishiba following his defeat in the July parliamentary elections.

Meanwhile, gold surpassed $3,600 after a surge in bets on US rate cuts. The bullion reached a new record, rising around 0.5 percent, boosted by an unexpectedly weak US jobs report.

Oil prices rose moderately, largely unaffected by the announcement of a new increase in OPEC+ production quotas.

The price of a barrel of Brent crude oil for November delivery rose 0.79 percent to $66.02. Its US equivalent, West Texas Intermediate, for October delivery, rose 0.63 percent to $62.26.

Jessika Becerra

La Jornada Newspaper, Tuesday, September 9, 2025, p. 20

Bank card payments without entering a personal identification number at the point-of-sale terminal are convenient, fast, and prevent system overload. However, each bank assumes the risk of these transactions, in which a purchase is authorized in seconds by simply touching the card to the payment device.

Martín Celaya, former president of the Payment Methods Committee of the Mexican Banking Association, and Marco Carrera, former director of market research for the National Commission for the Protection and Defense of Financial Services Users (Condusef), commented that cardholders should activate alerts to prevent their card from being used by someone else if it is lost or stolen.

Martín Celaya stated that the use of contactless technology has been promoted by banks, but many payment terminals still need to be enabled for this option. "Each bank establishes the maximum amount authorized for contactless technology, based on its statistics."

Financial institutions serving lower-income individuals may authorize limits of up to 1,000 pesos, for example; however, if the user's spending profile is higher, the bank may set a limit of up to 10,000 pesos.

He noted that banks allow users to set spending limits through their phone apps. In turn, banks implement measures based on their customers' spending patterns, thereby limiting the risk of fraud and identity theft in contactless payments.

Analysts commented that the more transactions are carried out, the more profit the payment terminal providers (Prosa and E-global) make, receiving a portion of the commission charged to the merchant.

"Technology developers, such as Visa and Mastercard, have promoted the use of contactless payment methods, but the truth is that it does entail risks. It's better to insert the card and enter the PIN (personal identification number)," said Marco Carrera.

Martín Celaya explained that it is unlikely that in crowded places like the Metro someone would hold a contactless payment terminal close to someone's wallet and make an improper charge.

"The advice is to have bank alerts active, which arrive when a transaction is made, and even turn off the card. The apps provide that option," he said.

Julio Gutiérrez

La Jornada Newspaper, Tuesday, September 9, 2025, p. 20

During the first half of the year, despite the uncertainty generated by U.S. policies, Mexico maintained solid commercial momentum, BBVA stated.

The firm emphasized that the impact of the tariffs applied by the Donald Trump administration—which “constitute a direct violation of the commitments of the USMCA”—has been limited, and the phenomenon of company relocation, better known as nearshoring , “will not just be a temporary advantage, but will become the pillar of Mexico's growth model for the next decade.”

"Despite tariff threats and anti-trade rhetoric from the United States, Mexico's commercial momentum remains strong, as reflected in the June 2025 figures," BBVA's economic research department stated in a special analysis.

He noted that monthly exports have consistently ranged between $50 billion and $56 billion over the past 15 months, while imports have been between $49 billion and $53 billion, resulting in a slightly positive trade balance.

He stated that from January to June 2025, according to INEGI, cumulative exports reached $312.728 billion and imports totaled $311.795 billion, resulting in a surplus of $1.432 billion.

BBVA highlighted that in the first half of the year, foreign direct investment totaled $55.6 billion, an 8.2 percent increase compared to the same period last year.

Reinvested profits accounted for 81.9 percent of FDI during the first half of the year, which "reflects the confidence of companies already operating in Mexico to expand their operations," the bank noted.