Mexican stock market advances for the third consecutive day

The stock markets of Mexico closed midweek trading in positive territory, in line with its trading peers Wall Street. The local stock indices advanced for the third consecutive session, on a day in which the minutes of the Federal Reserve.

The leading index S&P/BMV CPI of the Mexican stock exchange (BMV), made up of the 35 most traded shares in the local market, rose 0.45% to 51,993.95 units. The FTSE BIVAof the Institutional Stock Exchange (Biva), gained 0.45% and closed at 1,085.86 points.

S&P/BMV CPI

Within the benchmark, most components ended the session with gains, with 25 stocks in the red and 10 in the green. The best performances were from Gruma, with 4.23%; Industrias PeƱoles, with 3.37%, and Prinfra with 3.11 percent.

The dollar and Treasury yields fell on Wednesday due to weak US economic data. This was reinforced by the Fed minutes, which confirmed that the central bank could slow down interest rate hikes.

“Comments from some Fed officials have suggested that interest rate hikes going forward are likely to be of a smaller magnitude, something the minutes could confirm,” CI Banco said in an analysis note.

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