July 29, 2021

Opaque results in Latin American markets after turbulence in Mexico

Opaque results in Latin American markets after turbulence in Mexico

After the Mexican market recorded its worst decline in seven years yesterday, the Latin American stock markets ended today with negative numbers like Wall Street, whose results were affected by the price of oil and the threat of the slowdown in the global economy .

The New York parquet closed in red after the Industrials Dow Jones reported a drop of 0.77% and was located at 25,989.30 integers.

Likewise, it was a negative day for the selective S & P 500, which fell 0.92% and ended at 2,781.01 points.

Although the composite index of the Nasdaq, in which important technological groups are listed, had the worst day to fall 1.65% and stand at 7,406.90 units.

The results of Wall Street were influenced by the fall in the price of the intermediate oil of Texas (WTI), which closed with a decrease of 0.8% and stood at 60.19 dollars a barrel.

This result represents not only the tenth session in consecutive decline but may also be a sign of the dreaded slowdown in the global economy, according to several analysts.

On the other hand, the markets of Latin America remain in expectation with respect to the possible impact of a law to eliminate the collection of bank fees in Mexico.

Precisely, this Friday it was reported that the Legislature will listen to bankers and economic groups before approving this law.

Said decision was made after the Mexican Stock Exchange retraced yesterday 5.81% when the initiative was announced, its worst fall in seven years.

However, the economic crisis in Venezuela and the effects of the migration wave on the region's finances are increasingly worrying investors.

Precisely, the Venezuelan Confederation of Industrialists (Conindustria) warned today that in the last year 700 companies have closed in the country.

And he stressed that "there are only about 2,500 left", a situation that he attributes to the economic policies of the Nicolás Maduro government.

Thus, the Sao Paulo stock exchange rose 0.02% and its Ibovespa index ended the day at 85,641 points, after doing business for 16,003 million reals (about 4,282 million dollars).

Despite the turbulence of yesterday, the Mexican Price and Quotation Index advanced just 0.17% and closed at 44,263.74 units, after a sale of 35.781 million Mexican pesos (about 1,758.3 million dollars).

The Merval index of Buenos Aires ended with a fall of 2.68% to 29,912.49 points, after doing business for 579.44 million pesos (16.37 million dollars).

The Santiago Stock Exchange fell by 0.9% in its main index, the IPSA, which closed at 5,180.35, after making operations for 55,706,602,238 pesos (about 81.38 million dollars).

The parquet floor of Colombia fell by 0.35% in its capitalization index (Colcap), which closed at 1,419.91 units, after movements of 108,999 million Colombian pesos (about 34.2 million dollars).

The S & P / BVL Peru General index ended at 19,104.98 points after registering a drop of 0.90%, in a session in which 12,279,801 soles (about 3,644,939 dollars) were negotiated.

The Global Bonds index of the Stock Exchange of Montevideo subtracted 0.16% and stood at 101.98 points, after movements for 12,314,197 Uruguayan pesos (about 377,250 dollars).

The evolution of the Latin American stock exchanges was the following:

Market Closing Points

SAO PAULO +0.02% 85,641

MEXICO +0.17% 44,263.74

BUENOS AIRES -2.68% 29,912.49

SANTIAGO -0.9% 5,180.35

COLOMBIA -0.35% 1.419,91

LIMA -0.90% 19.104.98

MONTEVIDEO -0.16% 101.98


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