GDP drop is ‘felt’ in the stock markets in Mexico – El Financiero

The main stock market indicators of the country began this Thursday with red boards mainly due to the disappointing data of the Gross Domestic Product.

The S & P / BMV IPC of the Mexican Stock Exchange (BMV) falls 0.4 percent when trading at 50 thousand 646 points and the FTSE BIVA yields 0.38 percent to remain at one thousand 43.70 units.

“In Mexico, the focus is on the publication of the minutes of the last Banxico meeting. Regarding economic figures, Inegi published the final GDP for 3Q21, showing a sequential drop of 0.4 percent, ”said analysts from Banorte.

For their part, Vector analysts expect that the S & P / BMV IPC could lead to recoveries after hitting the support zone of 50,400 points.

“There is caution because the indicators less sensitive to short-term operation, maintain their downward direction, but we must be watching the minimums already mentioned,” they added.

Oil with slight drops

Oil held steady after OPEC said a planned coordinated release of reserves could add to a crude surplus forecast for early next year.

West Texas Intermediate (WTI) operates with a slight decrease of 0.27 percent at a price of 78.12 dollars per barrel, while Brent does not register movements, and is quoted at 82.25 dollars per barrel.

“Crude fell over the past month as President Joe Bide called for a response to rising energy prices, but the historic plan announced Tuesday fell short of expectations and caused prices to rise. The International Energy Agency accused Saudi Arabia, Russia and other major energy producers of creating “artificial tension” in world oil and gas markets, and urged OPEC + to accelerate the return of supplies, “said Bloomberg.

Source

GDP drop felt stock markets Mexico Financiero

 
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