The Mexican stock exchange (BMV) ended the negotiations this Friday with a moderate loss. The local stock market fell in line with its peers in the United States, after the markets fell back yesterday when the Federal Reserve confirmed the possibility of a sharp increase in rates.
The index reference S&P/BMV IPC, which make up the 35 most traded shares in the Mexican market, also with capitalization criteria, moved -0.14% to 53,191.78 units. The index FTSE BIVAmain of the Institutional Stock Market (Biva), fell -0.05% to close at the level of 1,101.76 points.
Within the reference index, most of the components ended the session in negative with advances for 12 of their values and losses for 23. They led the falls Televisa Group, with -5.22%; the cement plant Cemex, with -3.75%; the giant Mexico Groupwith -3.37%, and Volariswith -3.33 percent.
At the end of the week, the capital markets were pressured by bets on higher interest rate hikes in the United States, after Jerome Powellpresident of the Federal Reservesaid that in the discussion of his next meeting he would make an increase of 50 base points.
With a contrary behavior, the actions of the Banorte Financial Group, the largest Mexican bank, registered a profit of 8.17%, after presenting positive results. Its interest income and net income grew 16.6% and 25.8%, respectively, in the first quarter.
During the week, the Mexican market index registered a loss of 1.81% in its third consecutive week of decline. Compared to a closing of 56,609.54 units in the last week of March, the S&P/BMV IPC accumulates a negative movement of 3,417.76 units, equivalent to 6.04 percent.