BMV opens with drops after US employment data and local inflation

BMV opens with drops after US employment data and local inflation

The Mexican stock market lost in its first operations on Friday after lower-than-expected data was released on the creation of jobs in the United States, Mexico’s main trading partner, and that local inflation figures encouraged a new increase in the interest rate referential next month.

The benchmark S & P / BMV IPC index was down 0.2% at 52,948.96 points in the morning. The square was heading to record an accumulated loss in the first week of the year.

In December, 199,000 jobs were created in the United States, compared to a figure of 249,000 in the previous month. A Reuters poll of 65 economists had forecast job creation to rise to 400,000.

Meanwhile, Mexico’s year-on-year inflation closed last year well above the central bank’s target. The National Consumer Price Index (INPC) stood at 7.36% in December, according to figures released on Friday by the statistical institute, INEGI. Analysts projected it to accelerate to 7.51% from 7.37% in November, the highest record for the variable since January 2001.

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