BMV and Biva fall after inflation data and Victoria Rodríguez’s nomination to head Banxico

The Mexican stock exchange (BMV) closed this Wednesday with a moderate loss. The local share market fell, after having interrupted a streak of six consecutive losses yesterday, in a session in which relevant information on local inflation and the future of Banco de México was released.

The benchmark index S&P/BMV IPC, made up of the shares of the 35 issuers with the highest value by capitalization and liquidity in Mexico, fell -0.52% to 50,848.03 units, while the index FTSE BIVA, the main of the Institutional Stock Exchange (Biva), lost -0.47% with 1,047.70 units.

S&P/BMV IPC

Within the benchmark, most of the components ended the session in negative territory, with 10 stocks in green and 25 in red. The setbacks were led by the shares of the media giant Grupo Televisa, with -4.14%; Grupo Carso, with -3.17%, and Alsea, which lost -2.18 per kineto.

This day it was announced that inflation in Mexico, in the first half of November, registered its highest year-on-year advance in 20 years. A few hours later, President Andrés Manuel López Obrador announced that he will propose the Undersecretary of Expenditures, Victoria Rodríguez, to lead Banxico.

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