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T-MEC agreement sees positive results for Mexican stock market

Mexico City, Mexico — On Thursday, the Mexican stock market rose to its highest level in four weeks with the definitive approval of the Mexico, United States and Canada treaties in the U.S. Senate.

The benchmark S & P / BMV IPC index, composed of shares of the 35 most liquid firms in the market, rose 1.20 percent to 44,987.64 points.

Earlier, the main local stock index exceeded 45,000 units, which implied a gain of more than 1.30 percent.

Grupo Televisa led the way with 3.46 percent increase at 46.61 peso followed by those of Grupo México mining company, which earned 2.77 percent at 56.49 peso.

“The immediate ratification of the T-MEC is an anticipated but relevant event, since it would eliminate the risk of a delay in its approval due to the political trial of Donald Trump,” said Gabriela Siller, director of analysis at Banco Base.

On the other hand, the peso registered a slight fall pending catalysts that give direction to the participants of the exchange market.

The currency traded at 18.7896 per dollar, with a marginal decline of 0.03 percent against 18.7831 units of the Reuters reference price on Wednesday.