The Mexican Stock Exchange (BMV) marked the sixth day of consecutive falls this Monday, with which in that period it accumulates a contraction of 4.58 percent.
Even, in the session of this June 6, the S&P/BMV IPC, the main index of the stock market deepened its falls, ending with a decline of 1.24%, to 50,060.53 units, in a day in which a better mood of investors due to the news of the economic recovery in China due to the closures caused by a new wave of Covid-19. Throughout this 2022, the benchmark shows a decrease of 6.01 percent.
“In the first session of the week, the capital market registered moderate gains due to greater optimism about the Chinese economy (…) There were reports about a relaxation of the mobility restriction measures in Beijing, beginning with the reopening of restaurants, movie theaters and other commercial establishments,” Banco Base indicated in its daily report to investors.
The FTSE-BIVA, the index of the Institutional Stock Market, has also been down for six sessions, with an accumulated figure of -4.29 percent. On Monday it fell 1.16%, to 1,034.87 points. In the year it has lost 6.02 percent.
“For local equities, the behavior of our main indicator has remained extremely defensive, and there are names of companies with fundamentals that look attractive in terms of valuation,” Intercam Banco specialists wrote for their clients.
The performance of the Mexican stock markets was the opposite of that of the United States indices, which ended with gains. The NASDAQ Composite rose 0.40%, the S&P 500 rose 0.31%, and the Dow Jones Industrial Average gained just 0.05%.
Banco Base specialists highlighted that on Wall Street the relevant news was on the side of Amazon, which carried out a “stock-split” of 20 to 1, so that the price of its share is more accessible to small investors. This helped close the session with a gain of 1.99 percent.
In Mexico, the shares of Genomma Lab (+2.99%), Volaris (+2.50%), Bimbo (+2.27%) and Grupo Aeroportuario del Centro (+1.77%) were the winners this Monday. Losses were between América Móvil (-2.01%), Walmart de México y Centroamérica (-2.80%) and FEMSA (-2.22%).