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Mexican Stocks Close Lower; Peso Little Changed vs Dollar -- Market Talk

Dow Jones Newswires ·  Oct 26, 2021 04:39

1639 ET - The benchmark IPC index closes down 0.1% at 51834 points in its sixth straight decline. Televisa shares close down 3% and financial group Banorte shares fall 1.3%. The peso traded at 20.17 to the US dollar versus 20.18 Friday. Statistics institute Inegi reports a 1.6% drop in August economic activity, leading several analysts to predict a contraction in 3Q GDP instead of a modest expansion. "We expect September to post a rebound in services, as Covid-19 cases started to decline and as signaled by improvements in Google mobility reports and other indicators ... but this could be partially offset by a still-weak manufacturing sector, since auto production continued to be affected by supply shocks and US counterparts also declined that month," says Barclays. (anthony.harrup@wsj.com)

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