Mexico and Andean Stocks: IPC, IPSA, COLCAP, BVL — 2026-09-27
Mexico's IPC snapped a four-week losing streak on Friday, rising 1.13% to 64,992 as the peso firmed to 17.67 per dollar. Chile's IPSA slipped 0.39% to 11,256 on lithium and retail weakness, while Colombia's COLCAP fell 0.95% to 2,585. Banxico's decision to hold rates midweek sank the peso before Friday's rebound restored }}">
Mexico and Andean Stocks: IPC, IPSA, COLCAP, BVL — 2026-09-27
Top developments
IPC ends four-week losing streak
Mexico's S&P/BMV IPC rose 1.13% to 64,992 on Friday, September 25, closing out a four-week losing streak. The peso firmed to 17.67 per US dollar and airport stocks led gains. Investing.com confirmed the 1.13% weekly-ending advance.
Banxico holds rates; peso sinks midweek
On September 24, Banxico held its policy rate, signaling it won't follow the Fed with cuts yet. The IPC slipped that session and the peso weakened sharply — El Financiero reported the currency falling to 17.71 per dollar "sin paracaídas," with bank-window rates at 18.18,. The IPC lost 0.02% to 64,264.16 units.
Chile's IPSA slides on lithium jitters
The IPSA fell 0.39% to 11,256 on Friday as lithium and retail names slipped, though the peso firmed to 960.63 per dollar. Earlier in the week, SQM-B led losses on lithium concerns as the index shed 0.21% to 11,358. Santiago had also posted a sharp 1.31% MSCI Chile drop on Thursday the 24th.
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Copper softens late in the week; Peru pipeline in play
Copper slipped 0.34% to US$6.70 a pound on Friday, September 25, as US rate-hike bets weighed, though Southern Copper and Freeport shares rose. Meanwhile, per Reuters via Investing.com, Chinese and US firms are lining up for Peru copper projects as the government cuts red tape — a medium-term a positive for BVL-linked miners.
COLCAP mixed as peso swings
Colombia's COLCAP fell 0.95% to 2,585 on Friday, September 25, while the peso firmed about 1.1% to 3,312 per US dollar as the dollar index eased. Earlier, COLCAP gained 0.92% midweek even as the peso at one point fell to 3,272 on September 23, with soft oil keeping energy shares in focus.
Local view
El Economista described the BMV as closing stable in a session "marked by monetary policy," with local inflation data and the Banxico decision dominating. Milenio pegged the dollar's Friday close at 17.68 pesos, a 0.20% move from the prior session. Chile's La Tercera/Pulso noted the bolsa de Santiago trimming gains in a mixed Wall Street session.
Context & numbers
- IPC: 64,992 (+1.13%) Friday close; depth-level resistance cited by technical analysts at 65,658.69,
- Peso: 17.67 per USD Friday after touching 17.71 post-Banxico
- IPSA: 11,256 (-0.39%) Friday close
- COLCAP: 2,585 (-0.95%); Colombian peso 3,312 per USD
On the radar
- Colombia's pension reform will cut AFP inflows from April 2027, with direct impact on pension fund investment flows into COLCAP-listed equities
- Chile's AFP investment regime changes raise the public-equity ceiling in the Etapa 1 reference portfolio from 70.76% to 84.8% — a structural tailwind for Chilean listed equities
- Peru copper project pipeline: watch for formalized commitments from the Chinese and US firms reportedly in line as permitting is streamlined
- Colombia's Bogota exchange (BVC) raised its clearing house stake to 75.28% by buying shares from Banco de Bogotá — market infrastructure consolidation to monitor (no price disclosed)
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