Stocks in Mexico fall for the third consecutive session

The local squares link their third session with negative figures, after the winning streak that led to their best records so far in 2019.

Stock exchanges in Mexico operate at a loss, contrary to Wall Street indexes. The local squares link their third session with negative figures, after the winning streak that led to their best records so far in 2019.

The main index of the Mexican Stock Exchange (BMV), the S & P / BMV IPC, records a loss of -1.01% and is located at a level of 44,455 units. Among the 35 securities that comprise it (the most liquid shares of the country), the losses are majorities, with 25 of them falling.

The companies that lead the gains are Gentera, with 4.80%; Banco del Bajío, with 1.45%, and Banregio Grupo Financiero, with 1.16%. In the negative figures, the worst movements at the moment are those of Peñoles -3.61%; Bimbo, with -3.23%, and Grupo México, with -2.61%.

The second Mexican market, the Bolsa Institucinonal de Valores (Biva), falls with a greater force. Its FTSE BIVA index loses -1.13% and is located at 907.38 units. It remains above its moving average of 878.31 units.

Ángel Amancio, an independent analyst and trader with experience in Madrid and New York, affirms that the BMV and Biva are receding after being driven by a series of purchases for positive news about América Móvil. 

“Positive news about América Móvil unleashed a wave of purchases in a Mexican market that remained lagging in the first quarter of the year, the euphoria is over and the capitals are retired when foreseeing performances between medium and mediocre for the quarterly reports of the companies” , He said.

Source: El Economista

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