Mexican stock advances for second straight session; highlights Peñoles

Las stock markets of Mexico The negotiations on Tuesday closed with profits. The local stock indices rose, extending the strong movement observed yesterday, in a volatile day marked by the first drop in Wall Street in this 2023.

The index S&P/BMV IPC from Mexican stock exchange (BMV), which measures the 35 most liquid shares in the local market, gained 0.12% and closed at 49,050.46 points. The FTSE BIVAfrom the Institutional Stock Market (Biva), rose 0.04% to a level of 1,024.39 units.

S&P/BMV IPC

Within the reference index, a balance between gains and losses was observed, with 18 values ​​in green and 17 in red. The gains were led by the titles of the mining company Industrias Peñoles, with 7.39%, and the bottler Arca Continental, which rose 3.26 percent.

Investors remain concerned about the future of interest rates, due to the fight against persistent inflation, and the possibility that this causes a recession. On this day, the index came to show a moderate loss in line with Wall Street.

“Although these factors could maintain a high level of uncertainty in part of the year, we expect the profitability of financial investments to improve,” the consulting firm Metanalisis explained in a report.

jose.rivera@eleconomista.mx