Reported 6 months ago
Morgan Stanley downgraded its positive outlook on Mexican stocks after the election of Claudia Sheinbaum, the incoming leftist leader with stronger-than-expected legislative support. Concerns about potential negative market measures led to the country's equities being downgraded within their Latin America portfolio. The Wall Street bank reduced exposure to companies linked to Mexico's investment cycle and shifted focus to firms benefitting from a weaker peso and having significant revenues outside Mexico.
Source: YAHOO