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The first trading day after the virtual triumph of Andrés Manuel López Obrador as the next President of Mexico, the Mexican Stock Exchange (19459004) announces a recession of 2.12% [19659002] The main stock index, S & P BMV CPI, stood at 46,653.52 units, with a decrease of 1,009.68 points compared to the previous Friday.
The local stock market was found against the US indexes that reversed its direction and concluded with gains, of which the industrial average Dow Jones increased of 0.15%, the Standard and Poor's 500 won 0.31% and the Nasdaq advanced 0.76%.
Although the stock market lost more than 1,000 points after Obrador's triumph, financial analysts estimated that this result obedeci to a correction after the profits that were reported during the in June, as well as the incorporation of international factors.
The analyst and investment expert Carlos Ponce, and the chief economist of Ostrum Asset Management, a subsidiary of Natixis IM, Philippe Waechter, agreed that the result of this election was expected, in addition that the reconciliation speech of the president-elect supported the financial markets to have a neutral effect.
Investors will now wait to learn about the transition process, especially with the meeting that the virtual winner of the election and President Enrique Peña Nieto will hold tomorrow, besides that more than 39. Information is awaited on the renegotiation of the Free Trade Agreement with North America (NAFTA).
At the international level, markets will pay attention to the application of US tariffs to Chinese products that will come into effect next Friday, and the response that the Asian government will have; Significant economic data is also expected in the United States on the labor sector, which will influence the Fed's interest rate expectations.
At the close of the trading day, in BMV a volume of 200.4 million titles in the amount of 8,294.1 million pesos with 30 stations that won, 82 lost and nine remained unchanged.
The stations that contributed to the losses of the Mexican Stock Exchange were Grupo Financiero Banorte which closed with a fall of 4.38%; Cemex with less 2.83 percent; América Móvil lost 2.53%; Alfa Group with 2.16% and Wal-Mart fell by 1.53%
On the foreign exchange market, the dollar closed at 19.55 pesos Purchase and 20.35 pesos for sale, while the interbank dollar was placed at 20.04 pesos at the purchase and was offered at 20.05 pesos, according to Citibanamex .
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