LatinNews Daily - 12 November 2018

* Mexico’s stock exchange (BMV) rose by 0.2% on 10 November reversing the 6% fall it registered the previous day, the biggest fall in the BMV in over seven years. The BMV crash was caused by the unveiling of a new bill drafted by senators from the leftist Movimiento Regeneración Nacional (Morena) party of Mexico’s President-elect Andrés Manuel López Obrador that would limit banks’ ability to charge commissions to their clients. This led to a massive sell-off of stocks in Mexican banks that dragged down the BMV, as investors reacted negatively to the proposal. However, López Obrador himself reacted to the bill by giving a press conference in which he said that his administration will not seek to introduce any changes to the country’s financial and banking laws for the next three years. 

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