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Lima Stock Exchange closes the day with gains in 14 indicators and rises 0.31%

Lima Stock Exchange closes the day with gains in 14 indicators and rises 0.31%

The Lima Stock Exchange It closed the session this Monday, September 25, 2023 with gains in most of its indices, scoring 14 indicators up and 2 down. Thus, the S&P/BVL Perú General index, the most representative of the Lima stock market, rose 0.31% to 22,707.11 points.

For its part, The S&P/BVL Perú Selectivo index, which is made up of the most traded shares in the local market, gained 0.44% and was placed at 593.23 units.

The financial sector was the one that reported the most gains on the day with an advance of 1.09%, followed by mining (0.30%), construction (0.26%), services and electricity (0.21%) and industrial (0.01%). On the other hand, the only item that registered losses was consumption (-0.95%).

Among the local companies that recorded the greatest losses were: Agroindustrial Pomalca (-4.18%), Compañía Minera Poderosa (-2.64%) and Union of Peruvian breweries Backus and Johnston (-2.32%). While those that registered gains were: Enel (10.50%), Alicorp (1.27%) and Empresa Siderurgica del Perú (0.92%).

Markets close higher despite the volatility caused by the Fed’s message

According to César Romero, head of Research at Renta4 SAB, the day closed higher after the S&P 500 advanced 0.40%, the Nasdaq Composite increased to close at +0.45% and the Dow Jones rose +0.13 % with 3M being the worst performing member today, falling more than 2%. The S&P 500 has fallen almost 4% so far this month, the Nasdaq Composite -5.4% and the Dow Jones has fallen the least, 2% this month.

In details, the market performance has been affected by volatility, given that on Friday, September 22 The Federal Reserve (FED) indicated that they could continue raising rates by the end of the year after keeping them unchanged this monthwhich could weaken the economy for the remainder of the year.

10-year Treasury yields rose 10 basis points to their highest level since October 2007, while the 5-year rose 5 bps and the 30-year rose 13 bps. “Treasury bond yields have been rising as the Federal Reserve has made clear that it intends to keep short-term interest rates at elevated levels for longer than the market had previously expected, to continue weakening inflation,” Romero explained.

Source: Larepublica

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