2024-04-11 20:20:00
The winning streak of the Santiago Stock Exchange extended this Thursday and the S&P IPSA surpassed the 6,700 point mark for the first time in its historysince investors continue to look for opportunities ahead of the next earnings season in Chile, while on Wall Street in turn, stocks shook off yesterday’s losses with the boost from the technology sector.
The IPSA rose 0.58% to 6,726.52 points at market close, marking a historical high for the third consecutive time. The actions of Enel Chile (2.8%), Colbún (2.07%) and Cencosud (2.04%) led the performances, and with a flow of more than $30 billion divided almost equally, SQM-B (0,55%) y Latam (0,78%) They did it in traded amounts.
“In general, Chilean companies remain attractive from the valuation point of view, and we also have to see how the first quarter season goes. “The fourth quarter of 2023 brought some positive news, and I think based on that, some investors are positive about what’s coming in terms of recovery.”said to DF the head from Andean Equity Research at Itaú BBA, Carolina Ratto.
“This good behavior is due to In recent days we have seen significant increases in growth projections for the country, and in commodities as is copper by some investment banks. On the other hand, today the stocks that are having the best performance are those that were furthest behind, such as those in the food sector and electricity companies,” observed the portfolio manager of Chilean Shares of Zurich AGF, José Agustín Cristi.
The deputy manager of variable income at Vantrust Capital, Pablo Blanc, highlighted the roles of SQM and Latam in this week’s advances that made the current IPSA brand possible. “We also found Enel Chile, which has good prospects given that “Congress passed the rate stabilization law”held.
Wall Street rebounds
On the Wall Street side, The Nasdaq Composite advanced 1.22%, the S&P 500 gained 0.74% and the Dow Jones closed flat. The Nasdaq thus reached an all-time highas purchases of technology stocks proliferated, highlighting Amazon and its arrival to the club of all-time highs “Big Tech” in the current bullish cycle.
The stock market advance emerged after the losses of a Wednesday session where Treasury yields soared, in view of the solid March CPI in the United States. Today rates eased slightly in the short tranches, as the Producer Price Indices (PPI) were slightly below expectations.
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