Mexican Stock Exchange Poised for Gain in Shortened Trading Session
In a subdued trading session marked by the absence of Wall Street activity due to the Thanksgiving holiday, Mexican stock markets are recording moderate gains.
While awaiting the release of the Bank of Mexico’s (Banxico) latest monetary policy minutes, the S&P/BMV IPC, the benchmark index of the Mexican Stock Exchange, rose 0.47% to 50,023.90 points.
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Similarly, the FTSE BIVA of the Institutional Stock Exchange (BIVA) advanced 0.42% to 1,017.96 points.
Within the benchmark index, most stocks are trading higher. Standout performers include Gentera, up 3.49% to 25.47 pesos, followed by Genomma Lab, which gained 3.08% to 26.81 pesos, and Becle, the producer of José Cuervo tequila, which climbed 2.62% to 27 pesos.
The Decision of Banxico
The local market remains focused on Banxico’s minutes, seeking clues about the central bank’s future interest rate policy. This follows yesterday’s eased tensions after a “wonderful” phone conversation between Mexican President Claudia Sheinbaum and U.S. President-elect Donald Trump, which helped alleviate concerns about potential tariffs on Mexican goods.
Three members of the Bank of Mexico’s (Banxico) Governing Board have indicated support for a continued cycle of rate adjustments while maintaining a restrictive monetary stance.
According to the minutes from the November monetary policy announcement, in which the board unanimously decided on a fourth consecutive rate cut, one of the three members emphasized that they might even consider a larger rate adjustment at the next meeting.
This perspective highlights Banxico’s commitment to carefully calibrating its monetary policy to address evolving economic conditions while balancing the need for caution in a restrictive framework.
With trading volumes lighter than usual, the Mexican market continues to reflect cautious optimism amid a quieter international trading environment.
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