Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

IPC Advance Tops Hemisphere on Growth Outlook: Mexico City Mover

Mexico’s IPC stock index rose the most among major equity benchmarks in the Americas and Europe amid speculation that improving economic data will fuel a rebound from the lowest valuations in 11 months.

The IPC rose 1.2 percent to 40,721.35 at the close in Mexico City trading, after prices fell to 17.4 times trailing earnings last week, the lowest ratio since June 28, 2012. Lender Grupo Financiero Banorte SAB advanced 3.1 percent, while steelmaker Industrias CH SAB climbed 3.3 percent and miner Industrias Penoles SAB added 5.4 percent.

A report tomorrow is projected to show Mexico’s industrial production climbed 5.3 percent in April, according to the median estimate of 12 economists surveyed by Bloomberg. The 4.9 percent industrial output contraction in March was the steepest decline since October 2009. The IPC had retreated 8 percent this year through last week.

“Mexico has gotten very inexpensive,” Arturo Espinosa, a strategist with Santander Mexico, said in a telephone interview from Mexico City. “The market today could be anticipating a good report” on industrial production tomorrow.

The iShares MSCI Mexico Capped Investable Market Index Fund, a dollar-denominated proxy for the country’s stock market, rebounded after entering an oversold condition last week, based on a technical indicator called the relative strength index, or RSI.

The fund’s RSI fell to 27.3 on June 5, the lowest level since May 2012. An RSI reading below 30 on a range from zero to 100 signals to some technical analysts that a stock has fallen too quickly and is likely to recover. Late last week, the fund’s RSI jumped back above 30 and stood at 34.7 today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.