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Mexican stock exchange falls on U.S. economic data



19 November 2008 @ 07:29 pm ET

The Mexican stock exchange closed Wednesday with a loss of over 2 percent on U.S. economic data and a late report that the U.S Federal Reserve was cutting back its growth forecasts for 2009.

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AMX 48.98 0.19

The main IPC index tumbled 2.41 percent or 457.85 points to 18,578.38 unities at the closing trade Wednesday.

Today's market behavior was hit by a loss of America Movil (MXK:AMXL) and issuer companies in the mining sector including Industrias Penoles SAB de CV (MXK:PENOLES) and Grupo Mexico SAB de CV affected by a drop on basic materials.

Mexican stock Exchange is been affected by both, the economic data resulting from a slowing economy of U.S. Europe and Japan, and the national economy, according to analyst Jaime Ascencio from Actinver Casa de Bolsa.

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