The seven-year bull run in Mexican stocks may be coming to an end.
Strategists and investors are tempering their expectations as corporate profits slide, growth slows and the U.S. presidential election rattles investors. UBS Group AG expects a 10 percent drop in the IPC index by the end of the year. BTG Pactual cut its recommendation on Mexican stocks to underweight last week. Barclays Plc says valuations are bound to fall. This month, Mexico’s biggest stock ETF has seen the largest withdrawals in two years.