The Mexican peso capped a week of losses, dragged down by growing concerns about a victory for Donald Trump in the US presidential election on November 5.
In wholesale operations, the exchange rate closed at 19.9684, a loss of 11 cents (0.59 percent) for the Mexican currency, which fell 8 cents (1.41 percent) against the dollar during the week.
“The market continues to see a high risk of volatility for the exchange rate after the elections in the United States, as Trump has threatened to impose tariffs on imports from Mexico,” Banco Base noted in an analysis note.
For now, Friday’s session was marked by better-than-expected figures in the United States for new orders for capital goods and consumer confidence.
Stock market falls 2.3% in the week
The Mexican Stock Exchange (BMV) fell a marginal 0.02 percent, ending at 51,784.33 points. With this, it accumulated a weekly loss of 2.3 percent.
The session highlighted the 8.86 percent drop in the shares of the media giant Grupo Televisa, after it was announced that its executive president, Emilio Azcárraga, will take leave pending the results of a related investigation in the United States. with the International Federation of Association Football (FIFA) for the alleged payment of bribes of about 15 million dollars in 2017, to obtain the rights to broadcast the World Cup games of the 2018, 2022, 2026 and 2030 tournaments.
Nasdaq closes a week full of results on Wall Street higher
The Nasdaq technology composite rose 0.56 percent to 18,519.36 points, boosted by mega-cap stocks, as investors await quarterly results from some of Wall Street’s biggest companies next week.
Tesla shares rose 3.34 percent, a day after soaring 22 percent, thanks to the electric vehicle maker’s sales forecasts. Apple and Microsoft also rose. As does chip heavyweight Nvidia, which briefly overtook Apple as the company with the highest market value in the world.
In contrast, the Standard and Poor’s (S&P) 500 fell 0.03 percent to end at 5,808 points, while the Dow Jones Industrial Average fell 0.62 percent to 42,111.15 points.
The Dow plunged on losses in bank stocks and the decline of McDonald’s, as the fast-food chain faces an E. coli outbreak linked to its burgers.
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