Las mexico stock exchanges they ended the mid-week session with a loss. The indices fell, reversing the tone of most of the day, after the expected increase of 75 basis points in the interest rates of the Federal Reserve.
“Today we experienced an intense closing of the session due to the result of the monetary policy decision, which turned out to be the expected one. This increase makes a sum of 3.25% of 4.4% that the Fed expects to increase in the year”, highlighted Aurea CapitalMarkets.
the leading index S&P/BMV IPC from Mexican stock exchange (BMV), made up of the 35 most traded shares in the domestic market, fell 0.16% to 46,992.51 points. The FTSE BECOMESfrom Institutional Stock Market (Biva), closed stable at 981.04.
Within the reference index, most of the components ended the session in negative territory, with 22 values in red and 13 in green. The shares of Grupo Televisa Unit led the losses, with a significant drop of 3.53 percent.
Shares of telecommunications giant Grupo Televisa Unit entered an already long negative trend in July of the previous year, when they rose to almost 60 pesos thanks to its merger with Univisión. With 23.48 pesos, they have fallen 60.87 percent.
The Fed announcement
The Mexican stock market had started the session in positive territory, with a modest rise, but after the increase of 75 basis points in the Fed’s rates, the tone of the day changed. The announcement was in line with expectations by investors and analysts.
“Although the market had already fully discounted the increase of 75 basis points, what generated volatility in the markets was the rise in interest rates expected by the members of the Fed for the end of 2022 and 2023,” Banco Base said. .
“The decision was unanimous and it was anticipated that there will be more adjustments in rates; the median projection of the members of the Federal Open Market Committee points to 100 basis points of increases before the end of the year,” said the firm Bx +.
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