The Mexican stock exchange (BMV) began trading this week with a moderate decline. The local stock market falls as investors prepare for a scenario of higher interest rates in U.S, at a time when fear of Covid-19 Omicron variant.
The benchmark index S&P/BMV IPC, made up of the shares of the 35 issuers with the highest value by capitalization and liquidity in Mexico, moves -0.15% to the level of 53,119.67 units. The index FTSE BIVA, the main of the Institutional Stock Exchange (Biva), loses 0.14% and stands at a level of 1,098.31 units.
Within the benchmark, most of the components are trading at a loss, with 12 stocks in green, 22 in red, and one unchanged. The worst performances so far this session have been the GCC shares, with -1.58%; Alsea, with -0.90%; Grupo Carso, also with -0.90%, and Vesta, with -0.70 percent.
“Since December, investors have been assimilating a scenario of higher interest rates after the Fed meeting, while caution remains globally due to the coronavirus, which continues to generate uncertainty about the economic recovery,” explained financial group Ve for More in a report.