Mexican stock market falls due to economic concerns and geopolitical tensions

Las mexico stock exchanges opened with a loss on Tuesday morning. Stock indices fell for the third consecutive day due to concerns about the performance of the economy, in an environment of inflation, war and higher rates.

The International Monetary Fund (IMF) lowered its economic growth forecasts for Latin America. As a factor of pressure is added the aversion to risk that hit the square yesterday, after a new escalation in the conflict between Russia and Ukraine.

In this context, the main index S&P/BMV IPC from Mexican stock exchange (BMV), made up of the 35 most liquid local stocks, falls 0.54% to 45,210.22 points. The FTSE BIVAfrom Institutional Stock Market (Biva), yields 0.46% to 942.52 units.

S&P/BMV IPC

Within the benchmark index, most stocks trade at a loss, with 12 stocks in the red and 23 in the green. The worst performances are those of Volaris shares, with 3.26%; followed by those of Inbursa, with -2.64%, and Asur, with 1.96 percent.

The IMF cut its expansion projection in 2023 for Latin America and the Caribbean due to changes in the prices of raw materials and external financing conditions. Russia yesterday launched the worst attack against Ukraine since its invasion began.

jose.rivera@eleconomista.mx