The Mexican Stock Exchange (BMV) is experiencing gains amid the electoral campaign.

The behavior of Liverpool’s stocks stands out, rising sharply following the news that it would rejoin the main index of the market.

The Mexican Stock Exchange (BMV) is operating with gains in its early week negotiations. Averages are advancing, contrary to their counterparts in New York, as the market prepares to receive relevant economic information throughout the week.

The benchmark S&P/BMV IPC index, from the Mexican Stock Exchange (BMV), which includes the 35 most traded local stocks, is up by 0.40% at 55,756.20 units. The FTSE BIVA, from the Institutional Stock Exchange (Biva), rises by 0.51% to a level of 1,153.78 points.

Within the benchmark index, most stocks are operating with gains. Leading these advances are the shares of Megacable, up by 2.42% at 46.10 pesos; Genomma Lab, up by 1.89% at 14.04 pesos, and Grupo Financiero Banorte, up by 1.54% at 179.62.

Outside the index, the shares of the department store chain Liverpool were rising to levels not seen in five years, after S&P Dow Jones Indices preliminarily announced that they would return to be part of the S&P/BMV IPC index sample.

Liverpool’s shares, which had been removed from the benchmark S&P/BMV IPC in September as part of the semiannual rebalancing of the indicator, were up by 2.51% at 128.99 pesos. The new issuer Ollamani and the airline Volaris would be the ones leaving the sample.

Participants expect to receive US labor figures by the end of the week, after Federal Reserve Chairman Jerome Powell testifies before Congress on Wednesday. In Mexico, inflation figures for February are expected.

This happens in a context where Mexico’s President Andrés Manuel López Obrador announced that, if there is time and economic conditions allow, they will seek to acquire the concession for 49% of the shares of the Toluca International Airport. Additionally, he emphasized that the purchase of 13 power plants from Iberdrola and three out of nine concessioned hospitals has already been finalized.

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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