BMV closes June as the most winning market

After being positioned in the world as one of the most lagging markets of the year in terms of yield, the Mexican Stock Exchange ( BMV ) surprised in June.

The index of quotations and quotations ( S & P / BMV IPC ) is adjusted during the month of 6.72% in pesos and is established at 47.663 points. However, by incorporating the appreciation of the peso during this period, the gain reached 7.73%, in dollars.

With this move, the Mexican market ranked first in the world, according to information Bloomberg only behind the Venezuelan market, whose high returns are the cause of market distortions. l & # 39; inflation.

Up until this year, the BMV has shown falls of up to 9.5%, but for now, it seems to be recovering. During the quarter, the balance was also negative, but managed to close it with a recovery of 3.34%, breaking a downward trend of two quarters.

According to specialists, the IPC recovery signals are clear, however, they suggest to be cautious as a result of the results of the presidential election .

"With Friday's session, the CPI would confirm a change in trend that he had brought since the beginning of January," explains Jacobo Eleazar Rodríguez, director of financial analysis at [19459004BlackWallstreetCapital]

"I have two main factors that will determine the course of the BMV for the second semester: on the one hand, the tone given by the winner in the elections, especially if he takes a position more moderate regarding the reform of the energy, the airport and against the companies.The other factor is how the Congress is, to know if there will be any counterweight or will have absolute control, "added the expert.

Francisco Caudillo, analyst at Monex Casa de Bolsa also pointed out a possible change of trend and agreed that there will be a period of uncertainty after the elections.

"He is strong at the end of the month, it seems that the index wants to get out of the downtrend, but I would ask for more clarity, especially so that the result of the election is safer" said Caudillo. "I think the level that can inform us of a change in trend should be between a range of 48 thousand 247 and 48 thousand 500 points to be confirmed."

The specialist added that the external market situation over the past three months has been particularly volatile and turbulent, due to trade tensions and geopolitical risks.

"You must have on the radar what the indexes do in United States and other external situations.Therefore, in the particular case of the CPI, I would be We are on the edge, conditions are more favorable, but are still bearish, "said Caudillo.

Despite the external context, the flow of capital to listed funds ( ETF ) with exposure to Mexico reached $ 351 million, or $ 70 million more than a week earlier, placing the Mexico in third place, among emerging countries, according to Bloomberg .