Mexican stock market advances in market awaiting economic information

Las stock markets of Mexico show strong progress in their early trading on Thursday. The local indices are painted green, although the markets continue with a period of volatility due to uncertainty about US monetary policy.

The leading index S&P/BMV IPC from Mexican stock exchange (BMV), made up of the 35 most liquid shares in the domestic market, gains 0.83% at the level of 51,147.98 points. The FTSE BIVAfrom Institutional Stock Market (Biva), moves 0.93% to 1,066.89 units.

S&P/BMV IPC

Within the benchmark, most components are operating in positive territory, with 30 stocks in the green and five in the red. The shares of Grupo Carso lead the advances, rising 2.48%; followed by the industrial Alfa, with 2.27%, and the Televisa Group, with 2 percent.

Investors expect November inflation data to be released in the United States next week, on Tuesday. On Wednesday, the Federal Reserve (Fed) will make its monetary policy announcement (a 50 bp hike is expected) and will publish its economic projections.

On the local front, this morning the National Institute of Statistics and Geography published inflation in Mexico in November, which slowed to 7.8% per year, which would support a 0.50 basis point rise in interest rates from the Bank of Mexico (Banxico), in line with the Fed.

jose.rivera@eleconomista.mx