The Mexican Stock Market rises in the month, but does not reach its record
The financial reports of the companies also boosted the Mexican Stock Exchange, but the advance was not enough to reach its historical maximum of 1,772.37 points registered in July 2017.
On Thursday, the S&P / BMV IPC reached 51,856.68 units during the day, but closed below at 51,634.60, and for this Friday, due to a market adjustment, the index fell 1.48% to 50,868.32 points, after eight days up , in which it accumulated a yield of 5.17%. Even so, the index closed the month with an advance of 1.15%.
“Symbolically, the index reaches historical levels in the middle of the quarterly reporting season, which seem to have been well received by the market, as the outlook for companies has improved,” said Luis Alvarado, securities specialist at BASE financial group.
According to Monex, so far it has reported 97.1% of the S&P / BMV IPC sample, of which 61.7% have presented better than estimated results.
As for the currency, the peso closed July with an appreciation of 0.18% or 3.5 cents, trading around 19.90 pesos per dollar, with the exchange rate touching a minimum of 19.7466 and a maximum of 20.2502 pesos.
The Mexican currency accumulated five consecutive months of advance against the dollar and accumulated an appreciation of 4.55%. Gabriela Siller, director of analysis at Banco Base reported that a decrease in exchange rate volatility was observed during the month.
The specialist explained that the pressures on the exchange rate include an increase in the number of daily coronavirus infections worldwide and a fall, in the middle of the month, in the price of oil, after OPEC and allied countries were They promised to increase oil production by 400,000 barrels per day, extending the agreement until April 2022.
With information from Reuters.