Mexican Stock Market Records Three Consecutive Days of Gains

The Mexican stock market has experienced three consecutive days of gains, influenced by the positive sentiment from U.S. markets following inflation data.

The S&P/BMV IPC, Mexico’s main index, rose by 0.80%, reaching 50,242.84 points. Similarly, the FTSE-BIVA, the key indicator of the Institutional Stock Exchange, increased by 0.81%, settling at 1,019.07 points.

Investors displayed a heightened appetite for risk after December’s inflation data from the United States indicated progress toward the Federal Reserve’s target rate of 2%.

This optimism led market participants to assess only a 3% likelihood that the Federal Reserve would lower interest rates in January, according to CME’s FedWatch tool.

Additionally, investors viewed U.S. bank earnings as a positive sign, as they exceeded expectations. This contributed to the overall bullish sentiment in the market.

Mexican Stock Market Records Three Consecutive Days of Gains. (Photo Internet reproduction)

By the end of the trading day, Banco del Bajío led the gains in the S&P/BMV IPC with a rise of 6.10%. Regional followed closely with an increase of 5.89%.

Meanwhile, Quálitas, an auto insurance company, saw its shares rise by 5.05%. These financial sector stocks benefited from the positive momentum generated by U.S. banks reporting favorable quarterly results.

Throughout the day, comments from Austan Goolsbee, head of the Chicago Federal Reserve, also gained attention. He expressed confidence that inflation continues to move towards the central bank’s 2% target.