Mexico has recently become very attractive due to the issue of nearshoring, a phenomenon where global companies are seeking regionalization and many are coming to the country. “This is helping the economy a lot to generate and attract more investments. This first week the purchase flows on the BMV have increased,” explained Almudena Ruiz, director of variable income management at Finamex Casa de Bolsa.
Also, Mexico has a stronger fiscal position compared to Latin America, which is positive and makes it more stable. However, “if there is a reopening of China, perhaps indices more focused on commodities, such as Brazil’s, could do better since it has companies more related to it,” added Ruiz.
Regarding the influence of the US economy on the performance of the Latin American stock markets, the latest labor data from that country remained strong, with an unemployment rate that fell to 3.5% in December and an increase of 223.00 in unpaid payrolls. farms, according to figures from the US Department of Labor.
“The solid job creation in the United States is good news for consumption and the demand for Mexican exports,” Banco Base said in a note sent to clients.
In the first week of the year, the main index of the BMV rose 6.8%, exceeding the 6% registered by the Merval stock index of Argentina, followed by the referential index of the Colombian stock market with an advance of 3.2% and the referential the Lima Stock Exchange, with an increase of 2.3%. While the Bovespa index of the B3 stock market in Sao Paulo and the leading index of the Santiago Stock Exchange, the IPSA, closed with a fall of 0.7% and 2.4%, respectively.
Regarding the issuers that drove the growth of the BMV, Peñoles and Grupo México stand out, which had the highest weekly gain of all the companies that make up the S&P/BMV IPC, registering an increase of 22.4% and 13.4%, respectively.
The shares of issuers in the industrial sector, such as Cemex and Orbia, also stood out, with a weekly yield of 11.6% and 10.9%. As well as aeronautical service companies such as Grupo Aeroportuario del Pacífico (GAP), Grupo Aeroportuario Centro Norte (OMA) and Grupo Aeroportuario de Sureste (Asur), with a gain of 11%, 9.3% and 8.5%.