The Mexican stock exchange (BMV) ended the negotiations this Wednesday with profits. The stock market advanced in a session of high volatility and reversed the initial fall, driven by an expected monetary policy announcement from the Federal Reserve US, in line with forecast.
The index reference S&P/BMV IPC, made up of the 35 most traded shares in Mexico, moved 0.72% to 51,432.63 points. The FTSE BIVAof the Institutional Stock Exchange (Biva), gained 0.74% to 1,065.79 points. Both indices came in early to fall around 1% to their session lows.
Within the reference index, most of its components ended in positive territory, with 23 values in green and 12 in red. Earnings were led by the Mexican Stock Exchange Group, with 3.77%; followed by Alsea, with 3.47%, and Coca-Cola FEMSA, with 3.44 percent.
The behavior of the local market was in line with its peers in New York, which responded to the Fed’s monetary policy announcement. The central bank raised interest rates by half a percentage point, in line with expectations, and rejected speculation about a rise of 75 basis points.