Las Mexican stock exchanges closed Friday’s trading with strong gains, driven by a wave of global appetite for risk assets. After three straight weeks of losses, indices rallied on a clearer rate outlook.
main index S&P/BMV IPC from Mexican stock exchange (BMV), which measures the 35 most traded stocks in the domestic market, rose 1.64% to the level of 47,042.94 points. The FTSE BIVAfrom Institutional Stock Market (Biva), gained 1.60% to 976.18 units.
S&P/BMV IPC
Within the reference index, most of the components ended the day with gains, with 30 values in green and five in red. The best performances were those of Peñoles shares, with 7.17%; Grupo México, with 5.01%, and Volaris, with 4.02 percent.
Companies in the mining sector were buoyed by better prospects for demand from China, the world’s largest consumer of metals, which raised the prices of raw materials such as copper.
In the week, from a close of 45,888.63 units last Friday, the S&P/BMV IPC index accumulated a gain of 2.52 percent. For the FTSE BIVA, from a close of 953.28 points on Friday, the week’s gain was 2.40 percent.
jose.rivera@eleconomista.mx
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