MEXICO CITY (Reuters) – Mexican stocks fell 2.06% this Friday after U.S. economic data that questioned the pace of recovery of the world’s largest economy.
The main stock index, the CPI stood at 28.646 points, with a volume of 330.6 million shares, higher than the market average trading recently. At week’s CPI fell 6.44% and the year has a gain of 28.00%. “The numbers that came out this Friday in the U.S. are overshadowing enthusiasm Thursday among investors to invest in high-risk instruments (…) which dragged all markets globally,” said Fernando González, director of the Fastprofit signature.
The Commerce Department reported Friday that consumer spending fell 0.5% last month, the biggest decline since December, following an increase of 1.4% in August. Another report showed business activity in the central United States expanded in October for the first time in over a year, but the working conditions deteriorated. In the U.S., the Dow Jones industrial average closed down a 2.51% and the Nasdaq Composite Index lost 2.50%.
In the local market, shares of the telecommunications company America Movil, the most weight in the CPI, fell 2.18% to 29.15 pesos. Shares of Cemex cement one of the world’s largest, fell 6.77% to 13.77 pesos, and the titles of the telecommunications controller Carso Global Telecom, lost a 3.57% to 51.60 pesos.
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