Mexico stock exchange loses 0.31% after a day with mixed results
Mexico City, Jul 2 (EFE) .- The Mexican Stock Exchange lost 0.31% of its main indicator on Friday to reach 50,223.01 points, after a day with mixed results due to the spread of the delta variant of the coronavirus and the US Monthly Employment Report.
“Throughout the week, the local market has shown a strong correlation with the rest of the Western markets, so the loss is attributed to global risk appetite and not internal factors,” the analyst explained to Efe. of Banco Base, Luis Alvarado.
The expert pointed out that the market “closed with mixed results” due to “two main sources of volatility”.
One of them is “the spread of new strains of coronavirus, especially the one known as delta, which originated in the UK and has caused an average of around 20,000 cases daily this week.”
Also because the US Department of Labor Statistics “published the creation of 850,000 non-farm jobs in June, well above market expectations of 720,000.”
On the Mexican stock market, “the losses were concentrated on companies that had performed poorly with the pandemic, such as Cemex (-4.58%), Vesta (-2.69%) and the airport groups GAP (- 2.73%) and OMA (- 2.71%), ”said Alvarado.
In total, the Mexican stock market closed this day at 50,223.01 points after losing 153.88 points compared to the day before, which represents a decrease of 0.31%.
In addition, the Mexican peso appreciated weekly by 0.50%, closing this Friday at 19.77 units to the dollar.
The volume traded in the market reached 156.5 million securities for an amount of 10,499 million pesos (approximately $ 530.9 million).
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