Overview of the Mexican Stock Market
The Mexican stock market is experiencing moderate gains on this Thursday morning. Local indices are rising as the market absorbs retail sales figures and anticipates the minutes of monetary policy from Banco de México (Banxico).
- S&P/BMV IPC: The leading index of the Bolsa Mexicana de Valores (BMV) increased by 0.57% to 58,563.92 units.
- FTSE BIVA: The index of the Bolsa Institucional de Valores (Biva) rose by 0.61% to 1,173.05 units.
Most values within the reference index are trading upwards. Notable gainers include Cemex with a 2.78% increase to 16.64 pesos, Grupo Carso with a 2.58% rise to 128.47 pesos, and Arca Continental with a 2.51% gain to 202.78 pesos.
Outperforming Stocks
Outside the reference index, Grupo Herdez’s shares have seen an impressive 25% surge to 69 pesos, temporarily halting their trading due to the company’s recent announcement of divesting half its stake in McCormick.
Anticipation of Banxico Minutes
Investors are closely monitoring the release of Banxico’s minutes from their recent monetary policy meeting, expected later today. This awaited publication will shed light on the discussion that resulted in a moderation of the central bank’s key interest rate adjustments.
Earlier, it was reported that Mexico’s retail sales unexpectedly fell by 0.4% in the previous month at a monthly rate, with declines observed across almost all states. However, on an annual basis, retail sales saw a 2.3% increase.
Key Questions and Answers
- What is the current status of the Mexican stock market? The Mexican stock market is experiencing moderate gains, with local indices rising as the market absorbs retail sales figures and anticipates Banxico’s minutes of monetary policy.
- Which stocks are performing well? Cemex, Grupo Carso, and Arca Continental are among the notable gainers within the reference index. Outside of it, Grupo Herdez’s shares have surged by 25%.
- Why are investors eagerly awaiting Banxico’s minutes? Investors are keen to learn about the discussion during Banxico’s recent monetary policy meeting, which resulted in a moderation of the central bank’s key interest rate adjustments.
- What were the recent retail sales figures in Mexico? Retail sales unexpectedly decreased by 0.4% in the previous month at a monthly rate, with reductions across most states. Annually, retail sales increased by 2.3%.
