Local Stock Indices Rise for Second Consecutive Day, Nearing Record Highs
Mexico’s stock markets trade higher in the morning of this Tuesday, with local indices gaining ground for a second consecutive day. This solid upswing, which interrupted a three-day losing streak, has once again positioned the market near its all-time highs.
Key Indices Performance
- S&P/BMV IPC: The leading index of the Bolsa Mexicana de Valores (BMV), which comprises the most actively traded local stocks, increased by 0.17% to 62,107.95 units.
- FTSE BIVA: The index of the Bolsa Institucional de Valores (Biva) rose by 0.18% to the level of 1,243.56 units.
S&P/BMV IPC
Within the reference index, most values are trading higher. The shares of Orbia Advance lead the gains, with 1.79% more at 16.46 pesos, followed by those of conglomerate Alfa, with 1.71% at 14.85 pesos, and BanBajío, with 1.45% at 47.68 pesos.
Expert Analysis and Market Expectations
“Yesterday, the S&P/BMV IPC broke a three-day losing streak by closing higher. We believe that the upward pressure will prevail, and surpassing the psychological barrier of 62,000 units will send a favorable signal,” stated experts from Banorte in an analysis note for clients.
Investors are anticipating a speech from Reserve Federal President Jerome Powell. Meanwhile, local investors are analyzing retail sales data, which increased slightly (0.1%) in July, as well as the performance of the IGAE, which contracted more than expected in the same month.
Key Questions and Answers
- What is driving the recent gains in Mexico’s stock market? The solid upswing, which interrupted a three-day losing streak, has positioned the market near its all-time highs.
- Which stocks are leading the gains? The shares of Orbia Advance, Alfa, and BanBajío are among the top performers.
- What factors are influencing investor expectations? Investors are looking forward to a speech from Reserve Federal President Jerome Powell and analyzing retail sales data and the IGAE’s performance in July.
