The Mexican stock exchange (BMV) advances in its first operations on Wednesday. The local stock market recovers ground for the second day, while the market awaits a monetary policy announcement from the Federal Reserve, later in the day, which will be crucial in prices for the first part of the year.
The index reference S&P/BMV IPC, made up of the papers of the 35 issuers with the highest value by capitalization and liquidity in the Mexican market, gains 0.65% at the level of 51,434.67 units. The index FTSE BIVA, main of the Institutional Stock Market (Biva) advanced 0.64% to a level of 1,062.42 points.
Within the reference index, most of the components operate in positive territory, with 28 in green and seven in red. The best performances so far this session are held by the titles of the Asur airport, with 2.33%; Volaris, with 2.11%; Grupo Financiero Inbursa, with 1.79%, and Cemex, with 1.70 percent.
The Fed is due to announce an update to its monetary policy plan at 1pm today local time. The Mexican stock market advances in line with its peers Wall Street in a second positive day, but before it registered five days in decline in which it accumulated a loss of 5.71 percent.
“Investors expect to find [en el comunicado de la Fed] signals about when the rate hikes will start and how much the increase could be [total] in the year, as well as the adjustment in the balance of assets and the expectation regarding the control of inflation”, explained the financial group Ve por Más.