^MXX - IPC MEXICO

Mexico - Mexico Delayed price. Currency in MXN
40,087.19
+11.15 (+0.03%)
As of 11:25AM CDT. Market open.
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Previous close40,076.04
Open40,072.37
Volume52,881,799
Day's range40,026.58 - 40,378.73
52-week range38,265.51 - 50,603.39
Avg. volume154,148,289
  • Mexican Stocks Pushed to the Brink as Trade Tiff Roils Markets
    Bloomberg

    Mexican Stocks Pushed to the Brink as Trade Tiff Roils Markets

    (Bloomberg) -- Mexican stock investors are taking a particularly hard hit in Monday’s trade-triggered global equity rout, with the nation’s already beaten-down benchmark poised to break through a technical level that Monex’s top chartist says could presage an even deeper drop.The S&P/BMV IPC index sank as much as 1.8% in its fifth consecutive decline. The equity gauge, also known as the Mexbol, has slumped 13% from this year’s high in April. Cement maker Cemex SAB, which derives more than three-quarters of its sales from abroad, led declines in Mexico City as global markets were roiled after China escalated the trade war with the U.S.At the worst of it Monday, the Mexbol traded at its lowest intraday level since last November and was poised to close at its lowest in more than five-years.“The inertia is going to continue down,” said Monex’s senior technical analyst Juan Caudillo. If the Mexbol were to close below the November low, it could sink an additional 6% before finding support at around 37,000 points, he said.From a fundamental standpoint, Mexican equities could see further pressure on concerns about slowing growth in Mexico and the economic policies of President Andres Manuel Lopez Obrador. Bank of America Merrill Lynch said more companies so far have missed second-quarter earnings estimates than have beaten them, which could lead analysts to reduce their expectations even further.To contact the reporter on this story: Michael O'Boyle in Mexico City at moboyle7@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The Market’s Obstacles Are Both Macro and Micro
    Bloomberg

    The Market’s Obstacles Are Both Macro and Micro

    Everyone knew China’s economy was slowing, so blaming the Asian nation for a setback was just a convenient excuse to mask a deteriorating business, like when retailers blame the weather for a slump in sales. Apple’s announcement probably would have had only a short-term negative impact on equities, with traders coming around to the idea that Apple’s problems were of its own making if not for a disappointing manufacturing report Thursday morning from the Institute for Supply Management. Its December index of new orders — a key leading indicator of future activity — fell to a level that barely registered as growth.

  • When the Dollar Talks, the Fed Should Listen
    Bloomberg

    When the Dollar Talks, the Fed Should Listen

    The Bloomberg Dollar Spot Index, which measures the currency against a basket of its main peers, tumbled as much as 0.84 percent Thursday in its biggest decline in seven weeks. As one of the ultimate havens in global markets, the dollar should be benefiting from the current turmoil in risky assets and rising concern about a global economic slowdown. “When a central bank is more hawkish than expected and its currency drops, you are witnessing the collective wisdom of the global market.” In another blow to the dollar, the Bloomberg Consumer Comfort Index’s monthly expectations gauge fell to a one-year low in December as more respondents said the economy is getting worse.