Overview of the Mexican Stock Market Performance
The Mexican stock market experienced a downward trend on Tuesday morning, reversing an initial positive opening. Local indices are declining as the market absorbs inflation data from the United States, with anticipation for the first quarterly reports.
Key Index Movements
- S&P/BMV IPC: The leading index of the Mexican Stock Exchange (BMV) dropped by 0.23%, reaching 56,232.11 units.
- FTSE BIVA: The index of the Institutional Securities Exchange (Biva) decreased by 0.24%, settling at 1,132.65.
Notable Declines Among Stocks
Within the reference index, most stocks experienced losses. Notable declines include:
- Alsea: The operator of food franchises saw a 1.89% drop to 46.78 pesos.
- Becle: The tequila producer, José Cuervo, fell by 1.45% to 22.36 pesos.
- Gruma: The company descended 1.20% to 323.12 pesos.
US Inflation Data Impact
The U.S. Consumer Price Index (CPI) reported a 0.3% monthly increase in June, following a 0.1% rise in May. This marked its highest level since January. On an annual basis, inflation rose by 2.7%, up from 2.4% in May.
Expert Analysis
“The S&P/BMV IPC has experienced two consecutive days of losses. However, we believe there is still potential for an upward reaction if it closes above 55,900 units. The resistance that needs to be overcome for a stronger upward movement is at 57,100 points,” stated Banorte.
Key Questions and Answers
- What is the current status of the Mexican stock market? The Mexican stock market is experiencing a downward trend, with local indices declining as the market absorbs inflation data from the United States.
- Which stocks are leading the declines? Alsea, Becle, and Gruma are among the notable stocks experiencing significant losses.
- What recent inflation data was released by the U.S.? The U.S. Consumer Price Index (CPI) reported a 0.3% monthly increase in June and a 2.7% annual inflation rate.
- What is the outlook for the Mexican stock market according to experts? Experts from Banorte suggest that there is still potential for an upward movement in the market if it closes above 55,900 units, with a resistance level at 57,100 points.
