Mexican stock market falls for the fourth day attentive to comments from the Fed

Las stock markets of Mexico they go back for the fourth consecutive session this Tuesday. The local indices are painted in red in line with their US peers, in a market that is assimilating mixed economic figures and awaiting comments from the Federal Reserve (Fed).

The main index S&P/BMV IPC from Mexican stock exchange (BMV), made up of the 35 most traded shares in the country, fell 0.23% to 51,426.80 units. The index FTSE BIVAfrom Institutional Stock Exchange (Biva), loses 0.12% at a level of 1,073.88 points.

S&P/BMV IPC

Within the benchmark, most components are operating at a loss, with 24 stocks in green and 11 in red. The worst performances of this session are from Megacable, with 3.46%, and the mining companies Grupo México and Peñoles, with 3.22% and 2.52%, respectively.

St. Louis Fed President James Bullard said today that even under a “generous” review of monetary policy, the Fed will need to raise rates further, probably by at least another percentage point. To this influence was added that of some mixed numbers.

Data released this morning showed that the number of people filing for state unemployment benefits in the United States fell last week. The Philadelphia Fed manufacturing indicator fell more than anticipated in November.

“Stock markets act with negative sentiment on Thursday, with investors responding to the last quarterly reports of the season and after comments from some members of the Fed,” Grupo Financiero Banorte explained in a report.

jose.rivera@eleconomista.mx