Mexico City, Feb 28, 2026, 02:48 CST — The market has closed.
Mexico’s S&P/BMV IPC index closed Friday at 71,405.77, nudging up 0.02% for the day. For the week, though, it slipped roughly 0.04% from last Friday’s finish. Monday’s 1.12% drop set the tone, but the index managed to recover most of that loss by the weekend.
The flat close stands out, with Mexican stocks still hovering near record highs after a sharp climb. The IPC, now just under its 52-week top of about 72,111, has surged around 36% over the past year—so there’s not much room for negative surprises here. As a gauge of the biggest and most actively traded names on the Bolsa Mexicana de Valores, the index serves as a fast read on local risk sentiment.
The Bolsa is closed for the weekend, with trading set to resume Monday at 8:30 a.m. in Mexico City. Traders now turn to company outlooks and upcoming data for cues, as the next Bank of Mexico policy announcement isn’t due until March 26.
Televisa shares tumbled 7.5% this week after the company pulled its planned regular 2026 dividend, a move tied to its ongoing review of telecom investments. “Suspending the payment of our regular dividend in 2026,” Cable and Sky chief Francisco Valim told analysts, noting that capital expenditures might approach 25% of sales. Meanwhile, competitor TV Azteca is still navigating U.S. bankruptcy, with its stock frozen since 2023. Reuters
Becle, the company behind Jose Cuervo, flagged a tough outlook for 2026 as it works through a reshuffle of its U.S. distribution network and faces weaker demand. The stock slid up to 5% early on. “This will be a transition year,” CFO Rodrigo de la Maza said. Scotiabank’s Felipe Ucros didn’t hold back, calling it “a quarter to forget” and warning the start of 2026 “doesn’t look too bright either,” pointing to a flat U.S. tequila market. Reuters
Away from stocks, Pemex’s recent figures continue to shadow Mexican assets. Investors tracking country risk and funding are paying attention as the state-run oil giant slashed its Q4 loss, yet finished 2025 saddled with $85.2 billion in financial debt. $13.4 billion of that comes due this year, according to a filing.
Friday’s session ended with a bumpy ride in global markets. Stocks slipped as traders scrutinized lofty valuations and the mounting impact of AI, even as oil climbed—supply worries flared up again, this time linked to U.S.-Iran strains.
Mexico’s February S&P Global manufacturing PMI is on deck for March 2, the first real domestic macro gauge on the calendar next week. Last time out, January’s reading landed at 46.3—still under the 50 mark that divides expansion from contraction. That doesn’t leave much slack for another weak number if cyclical stocks want to keep their footing.
There’s a snag for the rate-cut outlook. Early February brought a climb in Mexico’s mid-month inflation, which reached 3.92%. Core inflation, excluding the choppier food and energy elements, edged up to 4.52%—still sitting above the central bank’s target range, according to official figures. Pantheon Macroeconomics’ Andres Abadia called the numbers a signal that policymakers have “limited scope” to loosen policy. Reuters
Mexico’s market is eyeing the February U.S. jobs report, out March 6 at 8:30 a.m. ET—a data drop known to jolt Treasury yields and the dollar. For IPC watchers, that’s the marker on the calendar before the new week kicks off.
