|Day's range||53,948.31 - 54,604.07|
|52-week range||44,518.73 - 57,064.16|
The global economy needs to find a more solid footing before most stock markets break out of their torpor, according to market strategists polled by Reuters who have broadly cut their 2023 forecasts compared with three months ago. That may be a tall order, however, given major central banks still have months to go before pausing one of the swiftest and most aggressive campaigns of interest rate hikes on record.
Mexico's stock exchange operator (BMV) is a top candidate to be bumped from the country's main stock index in its next rebalancing, which has suffered the weakest performance of any Latin American stock market, reduced turnover and more delistings, analysts said this week. Most immediately, market operator BMV and cellular infrastructure company SITES are likely to be booted from the S&P IPC benchmark index for their failure to comply with parameters such as the value and volume of transactions, analysts said. The new list of companies in the index will be published on Friday, with lender Gentera and supermarket operator Grupo Comercial Chedraui expected as key replacement candidates.
Brazilian stocks will rise less than previously expected this year as fears over October's presidential vote tarnish the outlook for the second half and double-digit interest rates prompt a switch to deposit accounts, a Reuters poll showed. In recent weeks, Brazil's benchmark Bovespa stock index has pared the bulk of its first-quarter gains, pressured by intensifying election rhetoric and the impact of the central bank's ultra-hawkish push to fight inflation. "We will face brutal election times, high interest rates are with us for the foreseeable future, and we have sticky inflation around the globe," said Andre Leite, partner and senior portfolio manager at Kairos Capital.