The Mexican stock market extends its rally; Cemex stands out.

Local indices extend the positive movement as investors assimilate economic information in the US.

After a day of aggressive gains, local indices continue the positive movement as investors digest economic information in the US.

Mexican stock exchanges operate with gains on Thursday morning. Following a day of aggressive advances, local indices continue the positive movement as investors digest economic information in the United States.

The main index S&P/BMV IPC of the Mexican Stock Exchange (BMV), which measures the most traded local stocks in the local market, rose by 0.63% to 56,203.16 points. The FTSE BIVA of the Institutional Stock Exchange (BIVA) gained 0.62% to 1,160.34.

The S&P/BMV IPC index surprised to the upside after several days of weakness, prompting very short-term technical indicators to turn around from oversold levels and now pointing to an extension of the advance.

Within the benchmark index, most components are trading with gains. Grupo Carso’s shares lead the gains, up by 3.81% to 152.26 pesos, followed by Cemex, with an improvement of 3.25% reaching 13,990 pesos.

Cemex shares received a boost after S&P Global Ratings upgraded the company’s credit rating on a global scale to ‘BBB-‘ from ‘BB+’, due to its solid financial and operational performance, and its deleveraging strategy.

Investors received this morning economic data from the US, after Tuesday’s report of an increase in consumer inflation. Producer prices and retail sales in the United States also saw increases in February.