Mexican stock market strings three advances and closes at its best level since June

Las mexico stock exchanges closed with gains for the third consecutive day. Stock indices rose in a market buoyed by the possible end of mobility restrictions for Covid-19 in China, pending the announcement of the Federal Reserve (Fed).

main index S&P/BMV IPC from Mexican stock exchange (BMV), made up of the 35 most traded shares on the local market, rose 1.89% to a level of 50,864.85 points. The FTSE BIVAfrom Institutional Stock Exchange (Biva), gained 1.85% to 1,062.02 units.

S&P/BMV IPC

Within the reference index, most of the components ended the day in positive, with 32 in green and three in red. Earnings were led by Quálitas, with 8.21%; Bimbo, with 6.11% and touching historical ceiling, and Industrias Peñoles, with 5.60 percent.

“The increased optimism is due to speculation that China could eliminate the zero policy Covid-19reducing concerns about China’s economic growth and supply chain disruptions,” explained local firm Banco Base.

Today’s close was the best for the S&P/BMV IPC Index since early June. With his streak of three consecutive days with profits, from a level of 48,892.56 units, he accumulated a profit of 1,972.29 units, with a variation of 4.03 percent.

jose.rivera@eleconomista.mx