Mexico City.- The IPC index of the Mexican Stock Exchange (BMV) emerged victorious in this week of high volatility at a global level in the stock markets by accumulating a gain of 1.5 percent, after three periods of continuous losses.
The stability of the national stock market allowed it to overcome the high uncertainty that mainly affected technology stocks, so investors sought less volatile assets in the Mexican market. The IPC index was at the level of 53,051.41 units. Today alone it advanced 0.33 percent.
In the United States, the main stock indices did their best to recover from last Black Monday, however, the Dow Jones, the Standard & Poor’s and the Nasdaq closed with a weekly negative balance of 0.60, 0.04 and 0.18 percent. In the session on Friday they managed to maintain their optimism by closing with increases of 0.13, 0.47 and 0.51 percent, respectively.
Analysts at Banorte said in a report that although the weak US employment report for July has raised concerns about a possible recession, and that although the labor market has cooled, it is not showing such weak conditions as this could be due to weather conditions.
On the other hand, they stressed that a relevant issue is that the increase in the unemployment rate was due to more people joining the labor force, rather than people losing their jobs. The participation rate rose from 62.6 percent to 62.7 percent, so they do not consider a recession as the most likely scenario.
In Asia, the Japanese Nikkei index closed the last session of the week with a rise of 0.72 percent, with a weekly balance of 2.31 percent decrease, far from the 12.40 percent drop it registered last Monday.
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