Local stock indices fell affected by a global wave of risk aversion, driven by fears of new US restrictions on China.
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Mexican stock exchanges concluded Wednesday’s trading with losses. Local stock indices fell affected by a global wave of risk aversion, driven by fears of new US restrictions on China.
The main index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which measures the most traded local stocks, dropped 1.15% to 53,744.78 points. The FTSE BIVA index of the Institutional Stock Exchange (Biva) declined 1.11% and closed at 1,100.72 units.
Within the benchmark index, most stocks closed with losses. Cemex led the decline, falling 4.79% to 11.52 pesos, followed by Grupo Carso, down 4.09% at 126.67 pesos, and Televisa, which dropped 3.71% to 8.82 pesos.
Investors also reacted to the quarterly report from giant América Móvil, released yesterday after market close. The company’s shares fell 1.30% to 15.98 pesos, following a net quarterly loss attributed to currency factors.
In other news from Mexico, US Ambassador to Mexico Ken Salazar reported that migrant flow at the shared border has decreased by more than 50% over six months.
US Secretary of State Antony Blinken acknowledged that Mexico has taken significant steps to reduce irregular migration.
Speaking from Washington alongside Secretary of Foreign Affairs Alicia Bárcena, Blinken assured that both countries are working together to achieve orderly, safe, and humane migration.