The Bolsa Mexicana de Valores (BMV), Mexico's answer to Wall Street, had good reason to celebrate New Year's Eve.
The BMV considerably outperformed other major world financial markets, and posted many bests during 2012.
Measured by the peso, the market returned 17.88% last year. Measured in dollars, gains were about 26%.
The BMV closed yesterday at 43,705 points, compared to 37,077 in 2011. On 23 occasions the Mexican market exceeded historic benchmarks. (Jan. 2 - BMV closes about 44,000 for first time in its history).
By comparison, U.S. financial services report that the Dow Jones Industrial Average gained 7.26% in 2012, while the NASDAQ was up 15.91%.
Other major world market gains and losses, measured in U.S. dollars: London (FTSE 100), 10.52%; Japan (Nikkei 225), 8.97%: Sao Paulo, Basil, -2.47%.
On currency exchanges the dollar was worth about 13 pesos as of Dec. 31. Dollar falls unexpectedly against Mexican peso as U.S. goes over fiscal cliff .
The new Institutional Revolutionary Party (PRI) administration of president Enrique Peña Nieto, which took office Dec. 1, has forecast that Mexico's economy will grow about 3.5% in 2013. It considerably outperformed the U.S. economy in 2012. The PRI government has asked the Mexican congress for an almost 50% increase in domestic security spending in 2013, as the country's drug war enters its 73rd month with no end in sight.
Jan. 3, 2013 - A Mexican, a Spaniard and two Americans were world's four richest men in 2012
Dec. 28, 2012 - Mexico pays enormous price for domestic insecurity
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