The Mexican Stock Exchange (BMV) it gained 0.1% on Monday in its main indicator until reaching 53,631.89 units, this despite the sharp drop in the mining group Mexico (-9.28%), the third largest company in the CPI.
“With the advancement of this day, the IPC accumulates a gain of 10.66% in the first 11 sessions of the year, in which it has closed 10 in positive and only one, last Friday, negative (-0.03%)”, explained the economic analyst of Banco Base, Alfredo Sandoval.
He added that the advance of the Price and Quotation Index (IPC), the main indicator of the BMV, was “light” and recalled that Last Thursday the IPC linked nine sessions consecutive earnings, something that had not happened since August 2016.
“The gains have come hand in hand with a greater appetite for risk globally, which has been reflected in the capital and exchange markets. Likewise, a ‘strong’ peso makes potential dollar returns be greater given the possibility of eventual depreciation,” the analyst explained.
Of the journey highlighted the drop of -9.28% in the price of Grupo México shares after a report that its main shareholder, Germán Larrea, is leading the bids to acquire the Banamex bank.
“This was the biggest daily drop for Grupo México since April 2009. However, despite the sharp drop, the gains from the rest were enough to offset it and push the index to close in positive territory,” she said.
During the day, the peso depreciated 0.1% against the dollar, when trading at 18.79 units per greenback, after appreciating at 18.77 pesos in the previous day, according to data from the Bank of Mexico.
The IPC closed the session at 53,631.89 unitswith a gain of 55.17 points and a positive variation of 0.1% compared to the previous day.
The volume traded in the market reached 61 million titles for an amount of 2,690 million pesos (143,199 million dollars).
Of the 208 firms that traded on the day, 113 ended with their prices rising74 had losses and 21 closed without changes.
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Banco de México rises positive dollar peso
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