Mexico’s stock market rises 0.85% for second straight session

Mexico’s stock market extended its advance on Thursday, with the benchmark IPC index gaining 0.85% to close at 65,436.16 points. It was the index’s second consecutive session of gains, supported by positive closes in the United States and most global markets.

Gabriela Siller, director of financial economic analysis at Grupo Financiero Base, said investors expected the U.S. Federal Reserve to keep its interest rate unchanged at its Sept. 16 decision. The Dow Jones, Nasdaq Composite and S&P 500 all advanced during the session.

“Mexico’s IPC index closed the session with a gain of 0.85%, recording gains for a second consecutive session,” Siller said. Enrique Covarrubias, director of economic analysis at Actinver, said Thursday’s movement left the Mexican index up 1.75%.

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The capital market closed the session with widespread gains globally, amid expectations that the Federal Reserve will keep the interest rate unchanged in its Sept. 16 decision.

Several Mexican-listed companies posted strong gains. Industrias Peñoles rose 3.72%, Grupo Carso gained 3.67%, Alsea advanced 2.78%, Cemex climbed 2.38% and Genomma Lab added 1.79%. The largest increases came from software and services company Globant, up 4.95%, airline Aeroméxico, up 4.57%, and Industrias Peñoles.

The peso appreciated 0.3% against the dollar, moving from 16.98 to 16.93 pesos per dollar, according to Banco de México closing data. Trading volume reached 235.5 million shares worth 17.17 billion pesos, about $1.014 billion. América’s shares fell 5.26%, Vista Oil & Gas dropped 4.33% and Grupo Profuturo declined 4.06%.

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Mexico’s IPC index closed the session with a gain of 0.85%, recording gains for a second consecutive session.