Mexico´s Stock Exchange Closes on Historic High

By Elliot Bullman

Mexicos IPC Breaks Record while Wall Street falters after Trump´s failed healthcare bill.

The Mexican Stock Exchange reached a new historical high last Friday, surpassing 49,000 points.

bmv alta historica

This is the first historical record for Mexican stock exchange in 2017, which close on Friday at 49,083 points driven largely by the shares of ASUR. The previous historical level recorded was set last August at 48,694 units.

Grupo Aeroportuario del Sureste (ASUR) led the gains of the day, gaining 5.20% selling its shares at 332.93 pesos. Santander and Banorte banks' shares also posted gains of more than 3% in the market.

bmv alta historica 3

Wall Street

The New York Stock Exchange closed with mixed results as shares of major indexes trimmed losses after learning that Republicans withdrew President Donald Trump´s healthcare bill from Congress. This represents the first legislative setback for the new President and markets tumbled.

It’s easy to get caught up in the heat of the moment. As recently as January, we were hearing from all sides that Mexico was heading for huge troubles following Trump’s election. The peso plunged, Mexico’s president appeared impotent, less-than-peaceful protests broke out across Mexico and the mood fell into despondency.

Despite this the economy has been quietly humming along for years now and its stock market has gone with it. Mexico largely sidestepped the Latin American slowdown that’s been hitting the region since 2012. In fact, since Mexico’s markets hit new records last August they have stayed technically in a bull market, only dropping 10% following Trump’s victory.

bmv alta historica 2

RELATED NEWS

  • Southwest Airlines inaugurates new international route to Cancun from New OrleansSouthwest Airlines inaugurates new international route to Cancun from New Orleans
  • The Federal Aviation Administration has ordered airlines to inspect certain older CFM56-7B turbofan engines.The Federal Aviation Administration has ordered airlines to inspect certain older CFM56-7B turbofan engines.
  • North Korea North Korea 'halts missile and nuclear tests', says Kim Jong-un
  • Frida Kahlo Barbie doll banned from shop shelves in MexicoFrida Kahlo Barbie doll banned from shop shelves in Mexico
  • NAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffsNAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffs
  • Mexico is second on world’s best places to retire listMexico is second on world’s best places to retire list
  • New video editing trend could be the future of ´fake newsNew video editing trend could be the future of ´fake news'
  • Trump says North Korea talks under way but he may not meet Kim Jong-unTrump says North Korea talks under way but he may not meet Kim Jong-un
  • Mexico’s candidates are avoiding talking about the elephant in the room: PensionsMexico’s candidates are avoiding talking about the elephant in the room: Pensions
  • Elon Musk just sank more than $100 million into The Boring CompanyElon Musk just sank more than $100 million into The Boring Company
  • Netflix is soaring after it crushed subscriber growth targets yet againNetflix is soaring after it crushed subscriber growth targets yet again
  • Starbucks: Protesters call for boycott after black men arrestedStarbucks: Protesters call for boycott after black men arrested
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2018