The Mexican peso fell back mid-morning on Monday after four straight days of gains, while the stock market rose slightly, in an erratic day due to low business volume with a large part of the main markets abroad closed for the Christmas holiday .
At the beginning of the last week of the year, investors’ attention was focused on news about the situation of the conflict between Russia and Ukraine, as well as the rapid increase in cases of Covid-19 in China, analysts agreed.
The peso traded at 19.3920 per dollar, with a depreciation of 0.25% against Friday’s Reuters reference price. In the four previous sessions, it accumulated an advance of 2.3 percent.
“With few economic references and with the holiday in the United States, the volume of operations is expected to be low, traders will continue to evaluate the news about the situation in Ukraine and China,” said local firm CI Bank.
The benchmark stock index S&P/BMV IPC rose a marginal 0.07% to 50,612.39 points.
Shares of corn tortilla maker Gruma led gains on Monday, up 5.48% to 274.79 pesos, followed by lender Gentera, which gained 3.33% to 22.97 pesos.
