The Mexican stock exchange (BMV) is trading at a profit this Tuesday, with a performance contrary to that of its US peers. The local stock market is advancing after six sessions with losses, amid bets on rate hikes in the United States in 2022 and awaiting inflation data.
The benchmark index S&P/BMV IPC, composed of the shares of the 35 issuers with the highest value by capitalization and liquidity in the Mexican market, gains 0.44% and at the level of 50,719.5 units. The index FTSE BIVA, from Institutional Stock Exchange (Biva), it moves 0.33% and is located at the level of 1,044.14 units.
Within the benchmark, most components are profitable, with 19 stocks in green and 16 in red. The best performances inside so far this session are from the media giant Grupo Televisa Unit, with 1.78%; the cement company Cemex, with 1.69%, and the mining company Grupo México, with 1 percent.
In six consecutive days with losses, the main index of the local stock market accumulated a loss of -2.34 percent. Investors await the release of local inflation data and the minutes of the most recent monetary policy meetings of the Federal Reserve (Fed) and the Bank of Mexico.
The stock market closed on Monday at 50,497 points, right “at the bottom of the consolidation channel in which it has moved in recent months, so it will be important to respect this level to avoid a fall towards the 200-day moving average located at 49,738 points, “said the meta-analysis consultancy in a report.
Reference-www.eleconomista.com.mx