Lima Stock Exchange closes down amid gloomy global economic outlook

The Lima Stock Exchange (BVL) closed Tuesday’s session with losses amid a gloomy outlook for the world economy after a negative report released by the International Monetary Fund (IMF), which reduced investors’ appetite for risk assets.

At the end of the operations, the S&P/BVL Peru General Index, the most representative of the Lima stock market, fell by 0.51% to 19,829.88 points.

Similarly, the S&P/BVL Peru Selective Index, which is made up of the most traded shares in the local market, fell 0.97% and stood at 519.96 units.

During the session, shares of 54 companies were quoted, of which 13 rose, 25 fell and 16 did not register a variation.

The sectors that presented gains were: construction (1.29%), industrial (0.85%) and financial (0.17%).

On the other hand, the only sector that presented losses was mining (-0.01%). The sectors that did not show variation were services and electricity.

Among the local stocks that rose the most were Cementos Pacasmayo (7.61%) and Luz del Sur (0.36%).

In contrast, those that fell are Pomalca (-5.08%), Compañía de Minas Buenaventura (-2.25%) and Minsur (-1.60%).

Globally, gold prices fall due to the strength of the dollar and the increase in the yield of Treasury bonds, while the US inflation data is expected for Thursday. Among metals, silver fell 1.6% and platinum 1.1%.

In addition, the IMF warned on Tuesday of rising risks to global financial stability, raising the possibility of disorderly turmoil, noting that emerging markets and real estate are particularly vulnerable.

The agency said that “storm clouds” are hanging over the global economy, including persistent inflation, a slowdown in China and the constant tension over the war in Ukraine, which have increased the risk of a severe recession to levels not seen since. the start of the COVID-19 pandemic. “The global environment is fragile with storm clouds on the horizon,” the report said.