The Mexican Stock Exchange gains 0.72% after the decision of the Federal Reserve

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This content was published on May 04, 2022 – 22:12

Mexico City, May 4 (EFE) .- The Mexican Stock Exchange (BMV) advanced 0.72% this Wednesday, in its main indicator to settle at 51,432.63 units, a reaction after the decision of the Federal Reserve ( Fed) -US central bank-.

“Like the US market, the Price and Quotation Index (IPC), the main indicator of the BMV, reacted favorably to the Fed’s monetary policy decision and the conference by Jerome Powell (president of the Reserve System Federal), closing the session with a profit,” Banco Base analyst Alfredo Sandoval explained to Efe.

This Wednesday, the Fed approved the increase in interest rates of 0.5 percentage points, the largest rate hike in 22 years.

He indicated that within the index “only 10 of the 35 main companies that make up the IPC registered losses, among which Bimbo stood out (-4.45%).

This after an agreement was announced in the morning between the company and the Government of Mexico “not to increase the prices of its products for the next 6 months.”

The specialist also said that “strong falls” were observed in Televisa (-3.89%) and Elektra (-3.11%), while among the companies with the highest profits in the session were BMV (+3.77%). ), Alsea (+3.47%), Coca-Cola FEMSA (+3.44%) and Banorte (+2.94%).

Despite the advance of this day, the IPC accumulates a performance so far this year of -3.45%.

On the day, the Mexican peso appreciated 0.93% against the dollar, trading at 20.08 units per greenback in the interbank market.

The IPC closed at 51,432.63 units with a gain of 366.07 points and a positive variation of 0.72% compared to the previous session.

The volume traded on the market reached 207.4 million titles for an amount of 20,416 million pesos (about 1,016.7 million dollars).

Of the 676 firms that listed on the day, 310 ended with their prices rising, 338 had losses and 28 closed unchanged.

The titles with the greatest upward variation were those of the health services company Médica Sur (MEDICA B), with 6.36%; the financial services firm Gentera (GENTERA), with 3.88%, and the Mexican Stock Exchange itself (BOLSA A), with 3.77%.

In contrast, the titles with the greatest downward variation were those of the financial intermediary Crédito Real (CREAL), with -7.31%; the food producer and marketer Grupo Bimbo (BIMBO A), with -4.45%, and the mining company Frisco (MFRISCO A-1), with -4.21%.

On the day two sectors won, the financial (1.57%) and frequent consumption (0.3%); one lost, that of materials (0.1%), while the industrial did not register a percentage variation. EFE

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