BMV falls due to lack of progress in the US to raise the debt ceiling

Las stock markets of Mexico The negotiations on Tuesday ended with losses, in line with their peers Wall Street. The indices reversed their positive start to the session, due to a greater perception of risk in the financial markets.

The leading index of the Mexican stock exchange (BMV), the S&P/BMV IPC, which groups the 35 most stock local shares, fell 0.15% to 55,180.97 units. He FTSE BIVAfrom Institutional Stock Market (Biva), 0.20% to 1,141.79 points.

S&P/BMV IPC

Within the S&P/BMV IPC index, most of the stocks ended the session in decline, with 20 in the red and 15 in the green. The worst performances were the shares of Gentera, with 3.62%, and Grupo Financiero Banorte, with 2.53 percent.

Investors are closely following the talks between the government of the Democrat Joe Biden and congressmen, especially Republicans, about an extension to the US debt ceiling to prevent it from incurring a default.

On the other hand, figures added pressure to prices after it was revealed that US retail sales grew only 0.04% instead of the 0.8% anticipated by the market. The fear of recession was revived.

“In the United States there is no progress to raise the debt ceiling and there are only 15 days left before the Treasury runs out of money. In addition, there are more signs of a slowdown,” explained Gabriela Siller, head of analysis at Banco Base.

jose.rivera@eleconomista.mx