31 of 35 CPI firms have reached new highs so far this year.

The Mexican stock market is having a dream year. Of the 35 companies listed on the Mexican Stock Exchange's (BMV) main stock index, the S&P/BMV IPC, 31 have reached record highs in 2025.

Experts consulted assert that the strength of Mexican broadcasters stems from their lack of significant exposure to the United States market, which is attractive to foreign investors in a context of uncertainty over tariffs.

The S&P/BMV IPC index has reached historic highs twice. The first time was on May 28, when it reached 58,735.86 points, and the second time was on August 22, when it reached 59,225.48 points.

During 2025, the S&P/BMV IPC shows an increase of 18.13 percent.

The FTSE-BIVA Institutional Stock Exchange index is 2.9% away from its highest level of 1,208.03 points reached on February 7, 2024.

Luis Gonzali, vice president and co-director of Investments at Franklin Templeton Mexico, stated that the BMV's strong results are due to the fact that most companies don't have significant exposure to the U.S. market.

"The stock market index is coming off a difficult period last year, posting double-digit negative returns, and this year we're seeing a strong recovery driven by the makeup of the BMV, which includes very specific sectors, especially those related to consumer goods," the expert said.

He added that consumer sector companies don't have such a close relationship with the United States, so tariffs don't impact them as significantly as they do other markets.

Gonzali stated that "most of the companies listed on the Stock Exchange provide services to Mexico or Latin America, not necessarily the United States, so this trade war noise doesn't impact them."

"The BMV stands out for its performance in 2025 due to investors' preference for emerging markets that maintain attractive financial valuations, solid fundamentals in index components such as revenue resilience, business strategies to improve operating margins, as well as healthy levels of profitability through ROE (return on equity)," said Ariel Méndez, stock market analyst for Bx+.

He also considered that Mexico's favorable stance on trade with the United States has made it an attractive destination for investment and economic resilience.

Finally, he acknowledged that the BMV had already discounted the risks since the end of last year, so its value is now reflected as an attractive asset for investors.

With firm numbers

Despite global volatility and uncertainty due to trade and geopolitical tensions, the stocks of Mexican companies have posted strong gains, with mining company Industrias Peñoles, microfinance company Gentera, and telecommunications company Megacable among the biggest gainers.

The stock of one of the world's largest producers of silver and other metals, Industrias Peñoles, reached an all-time high on August 12 at 586.1 pesos per unit. In 2025, the company's value will rise 99.48% and is trading at 531.01 pesos.

Alejandra Vargas, a stock analyst at Bx+, stated that the mining company Industrias Peñoles benefited from the price of metals, primarily silver and gold, which has been its key catalyst.

"Gold reached historic highs due to increased demand as a safe haven asset, while silver has benefited from both its industrial use and investment demand. This has improved margins and prospects for Peñoles."

Shares of Gentera, the parent company of Banco Compartamos, reached their peak price of 46 pesos on July 29. The issuer shows a 73.74% growth in 2025, and are selling for 42.22 pesos per unit.

Ariel Méndez said that "it is supported by very positive quarterly results, which are due to a funding strategy that allowed it to better weather interest rate cuts, in addition to its performance in Peru and the obtaining of its banking license there."

Those who failed at the BMV

On the other hand, the companies that haven't reached all-time highs are Bimbo, Cuervo, Liverpool, and Orbia. In the case of the latter, a conglomerate with petrochemical businesses and the Liverpool department store chain, both reached their all-time highs on August 26 of last year.

While the world's largest tequila producer, José Cuervo, peaked on August 27, 2024, and Grupo Bimbo peaked on September 4 of last year.

BMV retreats from its peak due to profit-taking

Mexican stock markets closed Monday's session lower, driven by profit-taking after rising the previous day to a new all-time high.

The Mexican Stock Exchange's (BMV) leading S&P/BMV IPC index, which represents the most traded local stocks, fell 1.24% to 58,492.13 points. The FTSE-BIVA index, of the Institutional Stock Exchange (Biva), fell 1.24% to 1,172.19 points.

With these results, both indices recorded their worst decline since May 30, when the S&P/BMV IPC fell 1.32 percent and the FTSE BIVA 1.42 percent.

"Markets closed the first session of the week with a pullback, driven by profit-taking following Friday's gains, when statements by Federal Reserve Chairman Jerome Powell validated the bond market's expectation of a 25 basis point cut in the benchmark rate in the September 17 decision," wrote analysts at Actinver Casa de Bolsa.

Stock market analysts at Valmex Casa de Bolsa indicated that stock indices closed the session with a negative performance, after closing last Friday's session with a positive performance, due to Jerome Powell's comments in Jackson Hole.

"For now, market participants are keeping a close eye on progress in the peace negotiations between the United States and Russia, while awaiting the release of U.S. personal consumption expenditures inflation, expected on August 29," they added. Within the benchmark index, most securities closed with losses.