The Mexican stock market advances but is on track for its worst week since June.

Mexican indices are moderately rising, with Megacable as the top performer, but they still outline their worst week since June of last year.

The stock markets in Mexico are trading with gains on Friday morning, after starting the session in negative territory. The indices are rising moderately, with Megacable leading as the best performer, but still heading for their worst week since June of last year.

The benchmark S&P/BMV IPC index of the Mexican Stock Exchange (BMV), which includes the 35 most traded local stocks, was up 0.27% at a level of 55,563.24 units. The FTSE BIVA, from the Institutional Stock Exchange (Biva), was gaining 0.25% with 1,148.15 points.

Within the benchmark index, the majority of stocks are advancing. The shares of the pay television operator Megacable stand out, gaining 2.35% to 44.95 pesos, followed by Genomma Lab stocks, which are up 1.82% to 13.40 pesos.

After a week of significant economic information, investors are awaiting further clues from the Federal Reserve regarding the future of interest rates. Throughout the day, the market expects public statements from central bank members.

This occurs in a context where inflation expectations indicate that private sector specialists do not believe that the Bank of Mexico’s specific target will be met.

According to the survey conducted by Banxico among 41 groups of analysis and economic consulting, both national and foreign, the market anticipates that by the end of 2024, the National Consumer Price Index (INPC) will register a variation of 4.14 percent.

This is the highest forecast gathered in 11 months, incorporating a third consecutive monthly upward correction.

Expectations for inflation in 2024, 2025, and even 2026 are above the specific target of 3%, although for the years 2025 and 2026, they foresee it being within the permissible range of +/-1 percentage point.