The Mexican Stock Exchange and Stock Exchange (BMV) advanced on Thursday animated by an extension of one month to the imposition of tariffs to articles sent to the United States that meet the requirements of the Regional TMEC Business Agreement, which includes much of the commercial exchange between both nations.
After applying generalized rates of 25% to its two commercial partners Canada and Mexico earlier this week, President Donald Trump announced Thursday the postponement, which will expire on April 2, after holding a phone call with his counterpart Claudia Sheinbaum
The peso quoted at 20,3070 per dollar almost at the end of the businesses, with an appreciation of 0.51%, the best performance between a main currency basket in Latin America, although moments before it came to strengthen about 1%.
The value of the weight began early after the United States Secretary of Commerce, Howard Lutnick, said in an interview that the suspension would be announced later.
Lee: Trump posts tariffs to Mexico in TMEC products until April 2, after talking with Sheinbaum
When the news was confirmed moments later by the leaders the currency slowed its progress, even so, the day was outlined at its best levels since mid -February.
Trump, who is pressing his neighbors to stop the drug entry, mainly fentanyl, and undocumented migrants to his nation, had already postponed in February the application of the rates so analysts consider that the inconsistency of their decisions maintained intact fear among investors.
“A time will come when the market gets tired and no longer pays attention to tariff threats,” said Jacobo Rodríguez, financial specialist at the Roga capital analysis firm. “In the end, uncertainty will continue,” he added.
The referential shareholding index S&P/BMV IPC rose 0.30% to 52,866.45 points, according to preliminary closing data, after a day of marked fluctuations.
Lee: Entrepreneurs recognize that Trump tariffs pause is an achievement for Mexico
The titles of the telecommunications firm America Mobile led the increases, with 3.37% more at 15.02 pesos, followed by those of the Minera Industrias Peñoles, which added 3.13% to 343.29 pesos.
In the secondary debt market, 10 -year bonus yield rose eight base points to 9.57%, while the 20 -year rate advanced 10, 10.11%.
With Reuters information
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