The Mexican stock market discarded the morning gains and left behind the possibility of setting new historical highs, in the middle of a day of little local information.
The S&P/BMV IPC index of the Mexican Stock Exchange (BMV) lost 0.45% to remain at 63,094.01 units, while the FTSE BIVA, the most representative index of the Institutional Stock Exchange (BIVA), fell 0.46% to close at 1,257.99 points.
The indicators, which in the morning seemed aimed at renewing highs, fell for the second time in three days.
The market remained attentive to the economic outlook, waiting for industrial production to be announced this week in Mexico. In the United States, new economic data could begin to be revealed given the possibility that the Senate reaches an agreement for government financing.
Banxico would cut rates
During the day it emerged that Victoria Rodríguez, governor of the Bank of Mexico, declared to the media that the central bank could apply another cut to the interest rate in the last monetary policy meeting of the year, which will take place in December.
The trade issue also remains relevant and on Monday the quotes incorporated that China and the United States agreed to suspend port tariffs for one year, which could lead to lower tensions.
On the corporate side, the mutual fund firm Dodge & Cox sold practically its entire stake in Grupo Televisa, of which it was the second largest shareholder. In exchange for this, Televisa added the Mexican Eduardo Tricio Haro and Mario Gabelli, the latter one of the most influential and respected investors on Wall Street.
Meanwhile, Grupo Aeroportuario del Pacífico (GAP) reported a drop in its passenger traffic of 0.8%, explained by its second largest decrease in international traffic since the pandemic, as a result of the effects of Hurricane Melissa in the Caribbean.
The stations with the biggest losses on Monday, among the largest and most stock-market, were the conglomerate Grupo Carso, the global bakery Grupo Bimbo and the tequila company Becle.
