London, Tuesday, 20 September 2022
With support from robust increases in the telecom sector and consumer staples up 3.76 and 1.22%, respectively, Mexico's S&P/BMV IPC stock index closed marginally higher on Tuesday at 47,038, outperforming the severe drops in other North American benchmarks.
Investors are still anticipating the Federal Reserve's tomorrow statement regarding its monetary policy. The US central bank is expected to increase rates by 75 basis points for the third session in a row, supporting previous statements that borrowing costs will remain high until the rate of price growth returns to normal ranges.
As management revealed that Sites Latinoamerica, SAB, would be split off, America Movil surged 5.05%, leading the session's gains.
(Report by: The Decision Maker – Finance editors)