The Mexican stock market is trading with gains and is on track for its fourth consecutive week of advances.
The indices are up for the second consecutive day, following their counterparts in the United States, after solid labor data, and they are shaping up for a positive week.
The Mexican stock markets are trading with moderate gains on Friday morning. The indices are up for the second consecutive day, following their counterparts in the United States, after solid labor data, and are on track for a positive week.
The leading index, S&P/BMV IPC, of the Mexican Stock Exchange (BMV), which groups the most traded stocks in the domestic market, is up 0.15% at 57,972.29 points. The FTSE BIVA, of the Institutional Stock Exchange (Biva), is up 0.14% to 1,189.52.
Within the benchmark index, most stocks are trading with gains. Orbia Advance shares stand out with a 3.44% increase to 37.250 pesos, with Peñoles as the second-best performer, rising 3.15% to 301.27 pesos per share.
Mexican stock market indices are on track for four consecutive weeks of gains. The S&P/BMV IPC has accumulated a little over 1 percent improvement during this period.
Meanwhile, the Mexican peso has appreciated to levels not seen since 2015, leading the US dollar to a price of 16.44 Mexican units.
The main driver behind this phenomenon of the “super-peso” is nearshoring.
In other news, President Andrés Manuel López Obrador ruled out on Friday breaking diplomatic relations with Ecuador or declaring the Ecuadorian ambassador persona non grata in the country, after the government of Quito designated the head of the Mexican diplomatic mission, Raquel Serur Smeke, as such on Thursday, in the South American nation.
Ecuador’s decision was in response to comments made by the Mexican president regarding the elections won by President Daniel Noboa and adds to the tension between both governments after Mexico accepted in December to host former Ecuadorian Vice President Jorge Glas in its embassy, who had been convicted twice for corruption.
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