The Mexican stock market ended Friday’s negotiations with a moderate gain, but ended the week with an accumulated loss. Investors were hesitant after the release of a strong US jobs report.
The reference index S&P/BMV IPC of the Mexican stock exchange (BMV), which groups the 35 most traded shares in the country, rose 0.44% to 47,582.11 units, but fell -0.34% in the week from a record of 47,743.15 points last Friday.
Within the benchmark index, most constituents finished in gains territory, with 22 stocks in the green and 13 in the red. The shares of Grupo Financiero Inbursa led, with 3.76%, followed by those of BanBajío, with 3.36 percent.
Nonfarm payrolls in the United States increased in June by 372,000 jobs. That figure was far higher than an expectation of 268,000 jobs added to the world’s largest economy during the sixth month of this year.
Strong U.S. employment showed, on the one hand, that the U.S. economy could indeed take sharp interest rate hikes without being hit, but on the other, it signals that the payoff may grow in fixed income.