The Wall Street Journal has reported that stocks in Mexico have jumped to new highs and are holding steady following the latest U.S. deal,which was designed to help the nation avoid the “fiscal cliff” scenario that had investors concerned over the last several months. In addition,following the market’s new record highs,Mexico’s stocks have reportedly held steady and have even moved slightly higher from January’s record close.
“Mexico’s stocks opened sharply higher,pushing the benchmark IPC index to a new intraday high,” writes the Wall Street Journal. “Markets in general look optimistic.”
According to the report,Mexico’s IPC index was up 1.2 percent during the initial hike,hitting a new intraday high of 44,253 points this January on a volume of 25.8 million shares,which were worth a combined total of MXN 648.1 million pesos,or $50.8 million. Mexico’s IPC index follows the top 35 most traded investment vehicles found in Mexico real estate. One major contributor to this new record high were CPO shares of cement maker Cemex,which has major operations in both the U.S. and Mexico,with shares up to MXN 13.12,an increase of more than 3.3 percent. Also,IPC leader America Movil shares rose by just over 1 percent,hitting MXN 14.90.
Following the market’s record close,the IPC index continued moving slightly higher,rising another 1 percent to hit an impressive 44,335 points,while total volume was at 30 million shares,which were worth MXN 751.9 million pesos,or $59 million. America Movil also experienced an additional increase in its market value,hitting MXN 14.93,up 1 percent.
“The Mexican peso was adding to its 8.6 percent gain against the dollar in 2012 and was quoted in Mexico City at MXN 12.7520,” writes the Wall Street Journal. “The peso was supported in recent sessions by the U.S. agreement to avoid the fiscal cliff.”
So what does all of this good news about Mexico’s markets mean for investors? It’s simple,really: The timing has never better to invest a portion of your retirement savings in Mexico to lock in not only a sound financial move that will produce high returns in the immediate future,but also a fabulous lifestyle for your golden years.