Lima Stock Exchange closes with mixed indicators after setback in the financial sector

The Lima Stock Exchange (BVL) ended the day on Wednesday with its mixed indicators, amid concerns about the health of the world economy in the face of the sustained advance in inflation.

At the close of trading, the S&P/BVL Peru General, the most representative of the Lima stock market, fell by 0.07% to 20,703.97 points.

Meanwhile, the S&P Index/BVL Perú Selectivo, which is made up of the most traded shares in the local market, advanced by 0.49% and was placed at 541.91 units.

During the session, a traded amount of S/43.3 million was reported in 359 operations. In addition, shares of 58 companies were quoted, of which 26 rose, 20 fell and 12 did not register a variation.

The sectors that had gains were: consumption (1.38%), construction (0.62%), industrial (0.27%) and mining (0.26%). Only financial ended in negative territory with 1.35%. Meanwhile, services and electricity did not register changes.

Among the local stocks that rose the most were Alturas Minerals Corp (6.25%), Southern Peru Copper Corporation (5.71%), Intercorp Financial Services Inc (3.57%), InRetail Peru (1.40%) and Unión Cervecerías Peruanas Backus and Johnston (1.38%).

On the contrary, those that fell the most are those of Panoro Minerals (-13.08%), Cervecería San Juan (-5.47%), Trevali Mining Corporation (-5.36%), Minsur (-3.37% ) and Empresa Agroindustrial Pomalca (-3.35%).

“Locally, the Peruvian Index fell slightly by 0.07% closing with average volumes on the day″, pointed out César Romero, head of Research at Renta4 SAB.

US stocks lost ground during the first trading session in June after harsh comments from JPMorgan CEO Jamie Dimon warning of a “hurricane” hitting the US economy. The S&P 500 fell 0.7%, the Dow Jones dropped 0.5% and the Nasdaq fell 0.7% on Wednesday.

Major US indices fell despite strong readings in the US manufacturing sector, which were followed shortly after by Dimon’s comments at an investment conference.

Data from the Institute of Supply and Management showed that the US manufacturing sector grew faster than expected in May, another sign that fears of an impending recession in the US economy may be overblown. Manufacturing index rose to 56.1 versus the market estimate of 54.5.