The Mexican market starts the week in the green following US inflation data.

At the close of last week, investors received significant inflation data from the United States, along with comments from the Fed’s chairman.

The Mexican stock exchanges are trading with gains on Monday morning. Local indices are rising, contrary to their counterparts in the United States, marking three consecutive sessions of advances and awaiting relevant economic data for the market.

The S&P/BMV IPC index, from the Mexican Stock Exchange (BMV), comprising the 35 most traded stocks in the domestic market, is up 0.32% at 57,551.42 points. The FTSE BIVA index, from the Institutional Stock Exchange (BIVA), is up 0.32% to 1,184.39 units.

Within the benchmark index, most stocks are trading with gains. Shares of the mining company Industrias Peñoles stand out, with an increase of 7.68% reaching 253.02 pesos, followed by those of Alfa, up 2.26% at 12.65 pesos.

Investors received significant inflation data from the United States at the close of last week, along with comments from the Federal Reserve (Fed) chairman that boost expectations of imminent rate cuts.

For this week, local investors have on their calendar the release of the meeting minutes of the Banxico monetary policy and the non-farm payroll report from the United States, a key employment report for the interest rate outlook.

Meanwhile, Claudia Sheinbaum, candidate of the coalition “Let’s Keep Making History” (Morena-PT-PVEM), stated that the parties endorsing her are the only ones that have guaranteed social programs in Mexico. She is the favorite for the presidency.

“We say that we are the only ones who guarantee social programs because we do it out of conviction. We are the ones from the Fourth Transformation: Morena and our allied parties. No one else can guarantee social programs because we have also turned them into rights. That’s why we enshrine them in the Constitution,” she affirmed during the launch of her campaign.

ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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