Tuesday, 16 Oct 2018
Business

Mexican stock market brakes winning streak in line with Wall Street

CITY OF MEXICO.- The Mexican Stock Exchange a receding in its first operations this Thursday in line with its peers on Wall Street as global trade tensions grew, in a session without relevant economic data.

At 9:45 local time, the stock index benchmark S & P / BMV IPC low 0.56 percent to 48 715.79 units.

The local stock exchange operates a volume of 7.4 million shares, for an economic amount of 299.5 million pesos; in which 79 stations participate, of which 17 win, 57 lose and five remain unchanged.

Peñoles shares show the worst performance when it fell 2.6 percent, followed by Grupo México at 2.18 percent, Elektra 2 percent, Grupo Lala and Becle at 1.49 percent and Gruma at 1.2 percent.

On the side of the winners, Alpek shoots 4.2 percent, followed by Alfa with 1.6 percent, Liverpool 0.9 percent and Coca-Cola FEMSA by 0.78 percent.

Wall Street , meanwhile, retreats due to a fall in financial and industrial actions and an intensification of commercial tensions, after the news that the European Union could retaliate if the United States applies tariffs to regional cars.

The Dow Jones industrial average fell 0.45 percent, to 25 thousand 085.66 units, while the S & P 500 lost 0.43 percent, to 2 thousand 803.23 units. The Nasdaq Composite, meanwhile, decreased 0.44 percent to 7,819.99 units.

The indicators fell despite weekly requests for unemployment aid in the United States fell to their lowest level in almost 50 years.

Initial orders for state unemployment benefits
  fell by 8 thousand, to a seasonally adjusted figure of 207 thousand, for the week ended on July 14, the lowest reading
  since the beginning of December 1969.

Stands out during the session, the strength of the dollar for a better reading of the American economy, however, investors continue to weigh more commercial issues that the country is currently negotiating.

The European Union said it could retaliate if the United States applies tariffs on regional block cars.

With information from Reuters and Notimex.

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