MEXICO CITY, Nov 9 (Reuters) – A top lawmaker from the leftist party of Mexico’s president-elect on Friday pledged there would be no more surprises after a bill to limit bank commissions sparked the biggest drop in stocks in more than seven years.
Mario Delgado, who leads President-elect Andres Manuel Lopez Obrador’s National Regeneration Movement (MORENA) party in the lower house of Congress, said the party would act with “prudence” after the unexpected bill sent bank stocks tumbling.
“The objective now is to maintain stability in financial markets,” Delgado told Mexican radio. “We must maintain dialogue. There should be no surprises.”
Mexico’s S&P/BMV IPC stock index fell 5.8 percent on Thursday, its biggest one-day loss since August 2011, as bank shares in the country dropped sharply.
It was the second shock to Mexican markets in less than two weeks. Stocks and the peso were hammered earlier this month after Lopez Obrador, who takes office on Dec. 1, said he would scrap a partially built $13 billion new airport for the capital. (Reporting by Veronica Gomez Editing by Phil Berlowitz )