Written in MONEY the
The weight in front dollar presented this Wednesday, November 2 an appreciation of 0.36 percent compared to the previous reference price.
The exchange rate is set at 19.68 pesos per dollaraccording to Bloomberg.
At the session on Tuesday, v weight increased in price by 0.45% compared to dollartrading at 19.72 units per dollar, after trading at 19.81 the previous day, according to Bank of Mexico data.
AND HOW IT WAS STOCK EXCHANGE?
The Stock market (BMV) saw a 1.89% rise in its main indicator this Tuesday, reaching 50,864.85 units, the biggest daily advance since last July 28.
“With today’s increase, BMV’s Index of Prices and Quotations (IPC) has reduced its losses so far this year to 4.52%, and compared to the historical maximum of April 1, it shows a decline of 10.86%”, Director of Financial Economica Analysis Banco Base, Gabriela Siller told EFE.
The expert warned that the market will pay attention to the decision on the monetary policy of the Federal Reserve of the United States (Fed, in English) next Wednesday, since it will allow them to have a clearer picture of the trend that will observe the interest rates. the end of the year.
“While there is a fairly solid expectation that a 75 basis point increase in interest rates will be announced, to move it to a range of 3.75% to 4%, the emphasis will be on the official statement and press conference by its Chairman Jerome Powell,” he explained.
In particular, he added, the market will be looking for information on the next decisions and the maximum level expected for the interest rate in the current up cycle.
That day in Mexico, Siller explained that of the 35 companies listed on the BMV IPC, only five ended up with losses.
IPC closed the session at 50,864.85 units, with a gain of 942.55 points and a positive variation of 1.89% compared to the previous session.
The volume traded in the market reached 231.7 million titles for an amount of 15.076 million pesos (about 753.8 million dollars).
Of the 591 companies listed on the day, 286 ended with price gains, 280 had losses, and 25 closed unchanged.
Titles with the largest upward variations were the insurance company Qualitas (Q) with 8.21%; energy infrastructure company Sempra Energy (SRE) with 7.05%, and food and marketing producer Grupo Bimbo (BIMBO A) with 6.11%.
In contrast, the biggest downward variations were in financial intermediary Unifin (UNIFIN A), with -5.49%; from home equipment retailer Grupo Famsa (GFAMSA A), with -3.38%, and from Value Grupo Financiero (VALUEGF), with -3.09%.
All sectors won on the day, led by materials (1.9%), followed by consumer spending (1.86%), industrial (1.42%) and finance (1.24%).