Home Economy Mexican Stock Exchange has its worst streak since 1981

Mexican Stock Exchange has its worst streak since 1981

The benchmark index S & P / BMV IPC, composed of the shares of the 35 most liquid firms in the market, rose 0.06 percent to 43,608.40 points. Moments before the stock market operated in negative territory.

The Mexican stock market opened lower on Wednesday after 11 consecutive loss sessions, its worst losing streak in more than three decades, given the uncertainty among market participants regarding the US-China trade dispute and its potential impact on global growth.

The benchmark index S & P / BMV  IPC, composed of the shares of the 35 most liquid firms in the market, rose 0.06 percent to 43,608.40 points. Moments before the stock market operated in negative territory.

In the opinion of the Monex Financial Group, the markets worldwide present negative movements, and continue with the losing streak of the last two days, due to concerns of the trade war between the United States and China, and the effect it could have on the growth worldwide.

This after US President Donald Trump threatened to raise some tariffs on Chinese products next Friday, May 10; and the fear that China could retaliate.

The financial entity noted that in the morning some economic data were released, such as Industrial Production in Germany, which fell less than expected; and imports and exports in China that presented mixed results.

The United States will raise tariffs on imported Chinese products worth $ 200 billion from 10 percent to 25 percent, the official newspaper announced on Wednesday, a measure that deepens the trade war between the two largest economies in the world.

On the other hand, the investors will be attentive to some corporate reports, among which the results of Disney, Office Depot and Fox Corp. will stand out.

Source: forbes

The Mazatlan Post

Exit mobile version