Lima Stock Exchange closes with gains due to the boost of the mining and financial sectors

The Lima Stock Exchange (BVL) ended the day this Wednesday on positive ground due to the momentum of the mining and financial sector, amid the announcement by the Federal Reserve (Fed) about applying, if necessary, interest rate hikes higher than usual to curb inflation in the United States.

At the end of the operations, the Index S&P/BVL Peru General, the most representative of the Lima stock market, rose by 0.82% to 25,642.58 points.

Similarly, the index S&P/BVL Perú Selectivo, which is made up of the most traded shares in the local market, advanced by 0.63% and was placed at 665.6 units.

During the session, a traded amount of S/ 63.8 million was reported in 424 operations. In addition, shares of 71 companies were listed, of which 34 rose, 19 fell and 18 did not show any variation.

By sectors, mining (1.56%), financial (1.23%), electricity (0.19%) and services (0.19%) had gains. Meanwhile, the items that ended with losses were construction (-0.86%), industrial (-0.85%) and consumption (-0.11%).

Among the local stocks that rose the most were Trevali Mining Corporation (6.31%), Austral Group (3.25%), Sociedad Minera Cerro Verde (2.18%), Nexa Resources (2.03%) and Southern Copper Corporation (1.91%).

On the contrary, those that fell the most were those of Sociedad Minera Corona (-2.44%), Unión Andina de Cementos (-2.27%), Candente Copper (-2.23%), Citigroup (-2.22 %) and Ferreycorp (-0.81%).

“The local stock market, following the higher performance of commodities, rose by 0.82%, as a result of the better performance of mining securities globally”, pointed out César Romero, head of Research at Renta4 SAB.

Globally, stocks fell on Wednesday to give back some gains after rising a day earlier as investors eyed the potential for the Federal Reserve (Fed) to take an even more aggressive approach to reining in inflation. Rent4 SAT.

The S&P 500 fell after the index gained more than 1% on Tuesday. The Dow Jones and Nasdaq also closed lower. Oil prices rose with Texas crude adding nearly 5% to close at $114 a barrel.

“On the geopolitical side, President Joe Biden plans to travel to Brussels before convening a NATO summit, in a meeting that will lay the groundwork for more sanctions against Russia and greater humanitarian aid for Ukraine.Romero said.