The Mexican stock market slightly advances in line with mixed opening in the US.

The Mexican stock market is trading with gains on Wednesday morning. The indices are moving slightly at the beginning of a session without relevant economic data.

The Mexican stock market is trading with gains on Wednesday morning. The indices are moving little at the beginning of a session without relevant economic data, while global markets show mixed performances, without a defined trend.

The leading index S&P/BMV IPC of the Mexican Stock Exchange (BMV), which groups the most traded local stocks, is up 0.32% at 55,073.17 points. The FTSE BIVA index of the Institutional Stock Exchange (Biva) rises 0.33% to 1,138.38 units.

Within the benchmark index, most stocks are showing gains. Mining giant Grupo México leads the movements with a 2.79% increase to 86.710 pesos, followed by the airline Volaris, with an improvement of 2.16% to 12.30 pesos.

In the absence of significant news, investors are seeking to define a trend for the market.

Yesterday, Tuesday, retail giant Walmex announced it will invest around 34.5 billion pesos (2.05 billion dollars) in 2024, 19% more than in 2023, but its shares registered slight losses shortly after the start of trading.

It is worth remembering that during 2023, the Mexican currency appreciated by 13%, and although 2024 will face challenges with a possible rate cut by Banxico and the US electoral process, the market estimates it will end the year at 18.50 pesos, according to the latest Citibanamex survey.

Investment is another key factor in the current economic situation. Far from the scenarios feared at the beginning of the López Obrador administration, there was no capital flight. Although there was a drop in foreign bond holdings, the figures indicate a recovery of these capital flows.

Foreign direct investment did not stop; on the contrary, in 2023, it reached a new record high of flows, with just over $36 billion, representing an annual growth of 2.2%. Although it is worth noting that little of these flows were due to new investments, as three-quarters of that amount was concentrated in reinvestment of profits.