Mexican stock market advances driven by América Móvil and Walmex

The mexico stock exchanges advance in their first negotiations on Tuesday, after a session start in negative territory. The indices are painted green in a market awaiting monetary policy announcements this week, including that of the Federal Reserve.

The reference index S&P/BMV IPC of the Mexican stock exchange (BMV), made up of the 35 most traded shares in the local market, rose 0.38% to 46,965.68 units. The FTSE BIVAof the Institutional Stock Market (Biva), rose 0.38% to 977.17 units.

S&P/BMV IPC

Within the reference index, most of the components operate at a loss, with 20 in red and 15 in green. Strong advances in the shares of the giants América Móvil (3.36%) and Walmex (1.02%) boosted the indices from a negative opening.

“We estimate a context of risk aversion prior to tomorrow’s announcement by the Fed, where a rise of 75 basis points in the target rate is estimated and the macroeconomic forecasts of the members of the Committee will be updated,” said Grupo Financiero Ve por Más.

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