Chile’s Stock Exchange experiences its biggest rise in 13 years after the elections

The bag of Chile on Monday experienced its highest rise in the last 13 years, with 9.69% that led to its main indicator, the Selective Stock Price Index (IPSA), to 4,780.91 points, on the day after the first round of the elections. presidential.

According to the statistics managed by the local press, this is its highest level since April 26 of this year and the highest daily percentage increase since October 2008 for the IPSA, in the context of the global financial crisis.

On Sunday the far-right candidate for the presidency of Chile, Jose Antonio Kast, The champion of a liberal economy, he obtained the highest number of votes in the first round of the elections and the country’s first magistracy will be played in the ballot on December 19.

Meanwhile, the candidate who will face the second round after reaping 25.69% of the votes, Gabriel Boric, is presented as a standard-bearer of a leftist formation that has the support of the Communist Party.

The shares that grew the most this day were those of the investor SMU (19.66%), the water supply company Aguas Andinas (19.07%), the energy company AES Andes (19.01%), and the retail conglomerates Cencosud (15.38%) and Falabella (14.90%).

The Minister of Finance, Rodrigo Cerda, said that “indeed, yesterday’s results (in the elections) show an exchange rate that is beginning to decrease its price levels, we also see the Stock Market increasing, and interest rates also tend to rise. diminish”.

“I think this is good news,” said the authority, who also stated that the markets have responded positively to the result of the legislative elections, also held this Sunday, and that they drew a Congress in which there will be a “quite a lot of discussion. more moderate ”.

In the exchange market, the dollar experienced a decline of 17.30 pesos in its price against the Chilean currency at the close of transactions this Monday in the exchange market, which is its worst data in two years, a result that is explained by the results Sunday’s election, according to experts.

The US currency managed to cushion during the course of the day the fall of up to 30 pesos that it experienced at the beginning of operations and ended the day at 811 units for every dollar, compared to the 800 with which the markets opened.