{"id":19726,"date":"2026-08-31T12:00:53","date_gmt":"2026-08-31T18:00:53","guid":{"rendered":"https:\/\/miranda-partners.com\/news-and-content\/miranda-intelligence\/market-chatter\/mexico-market-chatter-aug-14-aug-21-2026\/"},"modified":"2026-11-05T21:42:40","modified_gmt":"2026-11-06T03:42:40","slug":"mexico-market-chatter-aug-14-aug-21-2026","status":"publish","type":"post","link":"https:\/\/miranda-partners.com\/es\/news-and-content\/miranda-intelligence\/market-chatter\/mexico-market-chatter-aug-14-aug-21-2026\/","title":{"rendered":"Mexico Market Chatter \u2013 Aug. 14 \u2013 Aug. 21, 2026"},"content":{"rendered":"
<\/figure>

Markets<\/strong><\/h3>

En\u00a0S&P \/ BMV IPC<\/strong>\u00a0rebounded 2.1% over the last week to close at 65,729.18 pts. fueled by the rally in domestic mining stocks as a result of higher international metal prices. Meanwhile, the Mexican peso continued to appreciate, breaking the MXN$17.00 barrier, and closing at MXN$16.90\/USD; the yield of the 10-year M-Bono was up 7 bps to 9.22%.<\/p>

En\u00a0S&P \/ BMV IPC’s<\/strong>\u00a0top weekly gainers were: PE\u00d1OLES * (+10.1%), GMEXICO B (+9.2%), and GCC * (+5.4%). On the other hand, the main weekly losers were: VOLAR A (-12.7%), TLEVISA CPO (-5.5%) and LIVEPOL C-1 (-2.2%).<\/p>

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Corporate News<\/strong><\/h3>

Southern Copper, Grupo M\u00e9xico\u2019s mining subsidiary, plans to invest US$8.2 billion in Peru<\/strong>\u00a0in the T\u00eda Mar\u00eda, Los Chancas and Michiquillay copper mining projects, as well as a new smelter in Ilo, a port in southern Peru, according to local publication Revista Econom\u00eda. The company aims to increase annual copper production from 900,000 tons to 1.6 million tons by 2035. Execution will depend on permits, construction schedules and the resolution of local social and political risks. In related news,\u00a0Argentina formally launched the tender process to privatize its freight-rail network through a 50-year concession.\u00a0<\/strong>Grupo M\u00e9xico has expressed interest in the tender, which could require up to US$3 billion over five to eight years.<\/p>

Walmart de M\u00e9xico y Centroam\u00e9rica launched \u201cPrecios que no se tocan,\u201d an initiative that will maintain stable prices on more than 4,000 essential products for 90 days.\u00a0<\/strong>The program applies to Walmart Supercenter, Bodega Aurrera and the company\u2019s digital channels. The initiative seeks to provide price certainty for consumers amid cautious household spending and increased competition from discount retailers.<\/p>

Grupo Bimbo transferred responsibility for the Nutrella divestment auction to Conselho Administrativo de Defesa Econ\u00f4mica after its proposed sale process failed to advance.<\/strong>\u00a0The divestment forms part of the conditions imposed on Bimbo\u2019s acquisition of Wickbold in Brazil. CADE conducted the first phase of the public auction on July 23rd but did not announce a winning bidder. The regulator subsequently kept the process open without establishing a minimum price.<\/p>

Volaris has called an extraordinary shareholders\u2019 meeting for September 3rd<\/sup>\u00a0to vote on the proposed merger with Viva Aerobus.\u00a0<\/strong>The transaction has received regulatory approval in Colombia, while reviews remain underway in Mexico and the US. Management expects to complete the merger before year-end 2026.<\/p>

Sinda raised US$331.3 million through its IPO and a concurrent private placement agreed with Fresnillo,<\/strong>\u00a0the world\u2019s largest primary silver producer. Proceeds will allow the company to fund its exploration plans over the next two to three years.<\/p>

CFECapital announced that the IFC is considering a US$80 million investment in CFE Fibra E\u2019s potential equity issuance in Mexico and international markets.<\/strong>\u00a0Such investment is subject, among other conditions, to approval by IFC\u2019s management and Board of Directors, and to CFE\u2019s compliance with IFC\u2019s performance standards, consistent with those it has met since the 2025 bond.<\/p>

Mercado Pago\u2019s transaction count increased 95% and payment volume expanded 70% during the FIFA World Cup.\u00a0<\/strong>Mobile-payment collections through Point Tap, which allows merchants to accept payments by placing a customer\u2019s contactless card or smartphone close to an Android phone, exceeded 400,000 sellers in June, up 20%. Contactless transactions represented 70% of payments processed through Mercado Pago\u2019s Point terminals, compared with 40% one year earlier.<\/p>

Spin Credit, the joint venture between Femsa and QED Investors, appointed Jim McGinley as CEO to develop a scalable consumer-lending business for Spin by OXXO users.<\/strong>\u00a0Mr. McGinley previously developed consumer-credit products at Credit Karma, SeedFi, Capital One, Oportun and Aura.<\/p>

Cox Energy won a MXN$5.3 billion contract from Mexico\u2019s National Water Commission to build a seawater desalination plant in Playas de Rosarito, Baja California,<\/strong>\u00a0after submitting a lower bid than Acciona and Tecno Arrendamientos y Construcciones. The contract is scheduled to be signed on August 28ava<\/sup>\u00a0and will remain in effect through August 2029. The plant will supply Playas de Rosarito and southwestern Tijuana and is expected to benefit nearly one million residents.<\/p>

Fibra Next appointed Alexander Oechler as Capital Markets and IR Director,<\/strong>\u00a0effective August 17ava<\/sup>. Mr. Oechler has 23 years of investment-banking experience and has executed more than US$50 billion of M&A, equity and debt transactions, primarily in Mexico.<\/p>

Asur shareholders approved the internalization of technical-assistance and technology-transfer services through the merger of Inversiones y T\u00e9cnicas Aeroportuarias into Asur.<\/strong>\u00a0The company expects to issue approximately 7.2 million new net shares, increasing shares outstanding to approximately 307.2 million. Shareholders also approved two extraordinary cash dividends of MXN$10.00 per share each, payable in November and December 2026.<\/p>

El Puerto de Liverpool and Corporaci\u00f3n Actinver launched Activa Liverpool, a savings and investment product.<\/strong>\u00a0Customers who maintain an investment above MXN$20,000 can earn an annualized return of up to 7% and receive 7% cashback on purchases at Liverpool stores. Users can open and fund the account through the companies\u2019 applications, websites, and authorized channels.<\/p>

A US appeals court vacated the DOT\u2019s September 2025 decision to withdraw antitrust immunity from the AeroM\u00e9xico\u2013Delta Air Lines joint venture.<\/strong>\u00a0The ruling allows the airlines to continue coordinating their Mexico\u2013US network, schedules and commercial offering.<\/p>

Peter Thiel\u2019s Thiel Macro fund disclosed in a SEC filing that it has purchased 1.2 million ADSs of Vista Energy with a market value of approximately US$76 million.\u00a0<\/strong>Separately, Norwegian state-controlled energy company Equinor disclosed that it owns 6.2 million Vista ADSs, equivalent to a 5.61% stake. Equinor received the shares at US$52.20 per ADS as partial consideration for the US$712 million sale of Vaca Muerta assets to Vista in May, which also included US$387 million in cash.<\/p>

Invex Controladora announced that Ammper, a subsidiary of its Energy Transition division, agreed to develop and sell the second phase of the Enerpyme electrical infrastructure project in Quer\u00e9taro.<\/strong>\u00a0Investment will begin shortly, and completion is expected in 2028. The project is expected to have a relevant positive impact on Ammper\u2019s 2028 results and expand its energy supply and operations and maintenance services. Enerpyme addresses the energy requirements of major industrial clients in Mexico. Ammper currently has three additional electrical infrastructure projects under development.<\/p>

Grupo Gigante\u2019s real estate subsidiaries contracted a MXN$3.5 billion,<\/strong>\u00a084-month loan from Banco Inbursa, with a 24-month principal grace period and a floating rate linked to TIIE de Fondeo. The companies will use MXN$3.142 billion to refinance loans with Banco Inbursa, Banco Santander M\u00e9xico and HSBC M\u00e9xico, while MXN$358.3 million will fund working capital and general corporate purposes. Six properties and related lease receivables secure the facility.<\/p>

M\u00e9dica Sur announced the appointment of Jos\u00e9 Agust\u00edn Polanco Ib\u00e1\u00f1ez as its new CFO,<\/strong>\u00a0replacing Juan Francisco Ahedo Rozada. Mr. Polanco has more than 30 years of professional experience in corporate finance, strategic planning, general management, enterprise risk management, and corporate governance. He holds a bachelor\u2019s degree in Actuarial Science and a master\u2019s degree in Finance from ITAM and completed executive education at IPADE Business School.<\/p>

Telecommunications sector.<\/strong>\u00a0The Digital Transformation and Telecommunications Agency reported that 73.2 million mobile lines had been linked to a user\u2019s official identification and CURP as of August 19ava<\/sup>, equivalent to 60.5% of the expected adjusted total. Operators linked 78.9% of lines ending in zero; 2.4 million suspended lines have been reactivated, another 2.6 million should resume service and approximately 2.5 million inactive lines should be removed. The registration deadline for lines ending in one is August 31st<\/sup>.<\/p>

Other Companies<\/strong><\/h3>

Industria Mexicana de Coca-Cola (IMCC) announced an investment of more than US$2 billion to modernize more than 1 million small retailers in Mexico.\u00a0<\/strong>The program forms part of the US$6 billion commitment announced in February 2026 and will add digital tools for store operators, strengthen productive and logistics capabilities, and support water-efficiency, replenishment and ecosystem-restoration projects. IMCC products reach more than 1.2 million small businesses, and its value chain supports more than 1.7 million direct and indirect jobs.<\/p>

Sempra completed the US$500 million sale of Ecogas to Gas Natural del Noroeste, a Grupo Simsa subsidiary.<\/strong>\u00a0Ecogas operates more than 3,000 miles of natural-gas distribution infrastructure and 169,000 meters across Mexicali, Chihuahua and La Laguna-Durango. The divestment forms part of Sempra\u2019s capital-recycling strategy and will support investments in Texas and California while reducing its reliance on future common-equity issuances.<\/p>

Atera Energy plans to invest US$500 million in Mexico over the next five years to develop power-generation and energy-efficiency solutions for industrial customers<\/strong>. The Brookfield- and Celsia-backed company will operate through an Energy as a Service model, under which it finances, builds, operates, and maintains energy infrastructure while customers pay for energy consumed. Atera will initially target Nuevo Le\u00f3n, Coahuila, Guanajuato, and Quer\u00e9taro.<\/p>

Amazon will invest US$2.0 billion between 2026 and 2030 in Latin American productions for Prime Video.\u00a0<\/strong>The company plans to double its original content output across Mexico, Brazil, Argentina, Colombia and Chile. The investment will expand Prime Video\u2019s regional catalogue and strengthen Amazon\u2019s competitive position in the Latin American streaming market.<\/p>

Omnilife opened its first manufacturing plant in the US following a US$64m investment.<\/strong>\u00a0Located in Allen, Texas, the Omnilife Innovation Park integrates the company\u2019s US headquarters, a national distribution center, and a dietary supplement manufacturing facility. Initial annual production capacity will reach 1.2 million units and could expand to 5 million units within three years. The facility will shorten delivery times, reduce capacity utilization at Omnilife\u2019s Guadalajara plant, and mitigate exposure to potential US import tariffs.<\/p>

Nissan announced plans to launch six vehicles and three electrified technologies across Latin America,<\/strong>\u00a0as part of a regional portfolio renewal. Mexico remains a central manufacturing and commercial market within Nissan\u2019s Latin American operations.<\/p>

CFE plans to raise up to MXN$20 billion through three long-term bonds on BMV, with maturities of three, 10 and 40 years.\u00a0<\/strong>The company will use proceeds to refinance certificates due in the second half of 2026 and short-term bank loans, as well as to fund long-term investment, maintenance and auxiliary-service contracts. The securities represent the first three issuances under a new MXN$100 billion, five-year program. In related news,\u00a0CFE plans MXN$8.9 billion of transmission and distribution investment in Nuevo Le\u00f3n<\/strong>\u00a0to support the state\u2019s industrial and economic expansion. The company and local business groups agreed to share forward energy-demand projections to improve project planning. The initiative focuses on supply requirements for 2026 and 2027 as new industrial capacity enters the state.<\/p>

British health insurer Bupa Mexico plans to invest MXN$100 million in Nuevo Le\u00f3n over the next five years to expand its regional presence.\u00a0<\/strong>The company opened new offices in Monterrey after new business in the city increased 40% over the past year and accounted for 20% of its total portfolio in Mexico.<\/p>

Schneider Electric announced two new manufacturing facilities in Quer\u00e9taro and a third installation planned for a later phase.<\/strong>\u00a0The sites will total approximately 115,000 square meters and produce electrical-distribution and critical-energy-infrastructure solutions for industrial, infrastructure, energy and data-center customers. The company expects the expansion to support more than 4,000 direct jobs by the end of 2027.<\/p>

Chinese automaker GAC plans to start vehicle assembly operations in Mexico in the fourth quarter of 2026.<\/strong>\u00a0The facility will assemble imported component kits rather than perform full vehicle production. GAC operates 30 dealerships in Mexico, targets 40 by year-end and has sold 16,500 vehicles since entering the market.<\/p>

MUNDI, a digital trade-finance platform that provides invoice advances, purchase-order financing and revolving credit to Mexican exporters, secured a credit facility of up to US$150 million from US bank Column.<\/strong>\u00a0The transaction will increase its potential receivables portfolio to US$325 million, more than twice its previous operating capacity. MUNDI provides working capital to more than 500 Mexican companies and facilitates transactions with over 60 countries.<\/p>

Banco Dond\u00e9 added bill payments and mobile airtime top-ups to its app through a partnership with Latin American payments infrastructure platform tapi.<\/strong>\u00a0Customers can now pay electricity, water, telephone, and internet bills directly from their mobile phones.<\/p>

Bepensa Bebidas raised MXN$3.5 billion through two sustainable bond offerings in the domestic bond market.<\/strong>\u00a0The company placed MXN$2.2 billion of five-year floating-rate notes at TIIE de Fondeo plus 50 bps and MXN$1.3 billion of seven-year fixed-rate notes at 9.63%. The issuance forms part of a MXN$10.0 billion revolving bond program. Net proceeds will finance or refinance eligible projects under Bepensa Bebidas\u2019 sustainable-financing framework.<\/p>

President Claudia Sheinbaum said Mexicana de Aviaci\u00f3n, the Mexican state-owned airline, still requires public funding to finance its operations and has not yet reached the breakeven point.\u00a0<\/strong>She added that the subsidy was anticipated from the project\u2019s inception and that the airline\u2019s small fleet results in high operating costs.<\/p>

Economic<\/strong><\/h3>

The IGAE will likely increase by 0.2% MoM and 2.0% YoY in June, according to INEGI\u2019s IOAE indicator.<\/strong>\u00a0Growth slowed down to 0.1% MoM in July, while the annual rate accelerated to 2.7%, the highest level since March 2024.<\/p>

Service sector revenues declined 0.2% MoM in June based on seasonally adjusted data,<\/strong>\u00a0which extended the sequential contraction to two consecutive months, according to INEGI. Service sector revenues fell 1.2% YoY based on original data.<\/p>

Retail sales declined 0.2% MoM in June based on seasonally adjusted data, which reversed the expansion recorded in the preceding months,<\/strong>\u00a0according to INEGI. Retail sales increased 2.7% YoY based on original data.<\/p>

Manufacturing production increased 0.1% MoM but declined 2.4% YoY in June according to INEGI\u2019s Monthly Manufacturing Survey (EMIM).<\/strong><\/p>

Foreign holdings of Mexican government debt increased 0.14% MoM to MXN$1.785 trillion (US$102.3 billion) in July<\/strong>, according to Banco de M\u00e9xico. However, foreign investors\u2019 share declined by 17 bps MoM to 11.25%, its fifth consecutive monthly contraction and second-lowest level since November 2009, as total government debt issuance rose 1.68%.<\/p>

Assets under management of the Afore system increased 17.0% YoY to MXN$8.95 trillion in July,<\/strong>\u00a0according to Consar. The fastest growing Afores were Profuturo (+21.9%), Sura (+19.1%) and Coppel (+16.8%). The breakdown of investments included government debt (51.3%), foreign equities (13.7%), domestic private debt (11.4%), structured instruments (7.8%), domestic equities (6.8%), Fibras (3.1%), and others (4.3%).<\/p>

Economists expect Banco de M\u00e9xico to keep it key interest rate unchanged at 6.50% over the rest of 2026 and 2027, according to the latest Citi Mexico expectations survey.<\/strong>\u00a0The median GDP growth estimates held at 1.2% for 2026, and at 1.8% for 2027, from 1.8%. Headline inflation expectations declined to 4.00% for 2026, from 4.02%, and remained at 3.80% for 2027, while core inflation projections stayed at 4.00%, and 3.80%, respectively. The median USDMXN forecast strengthened to 17.68 for YE26, from 17.90, and to 18.24 for YE27, from 18.50.<\/p>

Cepal lowered its 2026 GDP growth forecast for Mexico to 1.3%, from 1.5%, despite the economic recovery recorded in 2Q26.<\/strong>\u00a0The organization expects growth to accelerate to 1.9% in 2027, reflecting the low-growth cycle that has affected Mexico since the 1990s. Cepal identified Plan M\u00e9xico, development hubs and mixed infrastructure projects as potential productivity and growth drivers.<\/p>

Urban public transportation systems carried 268.8 million passengers, up 5.6% YoY in June 2026,<\/strong>\u00a0according to INEGI. Passenger traffic increased 1.9% in the Mexico City Metropolitan Area, 30.7% in Monterrey, 4.3% in Guadalajara, and 7.8% in Pachuca. Traffic declined 6.6% in Le\u00f3n, 9.3% in Puebla, and 9.5% in Chihuahua.<\/p>

The US Department of Commerce imposed preliminary antidumping duties of 3.37%-5.28% on Mexican winter strawberries, with a 4.83% rate for most exporters.<\/strong>\u00a0The Economy Ministry rejected the methodology and argued that the seasonal and regional criteria conflict with USMCA and OMC provisions. The National Agriculture Council (CNA) warned that the approach could establish a precedent for other Mexican perishable and seasonal exports, reduce commercial certainty and disrupt integrated agricultural supply chains. Mexico exported 263,000 tons of strawberries to the US for US$1 billion in 2025 and supplies approximately 98% of US imports during the November-March period. The final determination is scheduled for January 8ava<\/sup>, 2027.<\/p>

The Mexican government and representatives of most service stations and gasoline brands agreed to extend the Estrategia Nacional para Estabilizar el Precio de la Gasolina Regular for another six months.<\/strong>\u00a0Regular gasoline will remain below MXN$24 per liter and diesel below MXN$27 per liter, with lower prices in border regions due to the 8% IVA rate.<\/p>

Subasta CETES:<\/strong>\u00a028-day CETES -25 bps at 6.15%; 91-day CETES -3 bps to 6.45%; 182-day CETES +2 bps to 6.76% and 364-day CETES +5 bps to 7.06%.<\/p>

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Descargar PDF: Mexican Market Chatter August 14th \u2013 August 21st \u2013 ENG<\/a> Mexican Market Chatter August 14th \u2013 August 21st \u2013 ESP<\/a><\/p>","protected":false},"excerpt":{"rendered":"

The\u00a0S&P \/ BMV IPC\u00a0rebounded 2.1% over the last week to close at 65,729.18 pts. fueled by the rally in domestic mining stocks as a result of higher<\/p>","protected":false},"author":35,"featured_media":18193,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":["post-19726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-chatter"],"_links":{"self":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts\/19726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/comments?post=19726"}],"version-history":[{"count":1,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts\/19726\/revisions"}],"predecessor-version":[{"id":19732,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts\/19726\/revisions\/19732"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/media\/18193"}],"wp:attachment":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/media?parent=19726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/categories?post=19726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/tags?post=19726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}