Lima Stock Exchange closes higher due to favorable inflation data in the United States

The Lima Stock Exchange (BVL) closed Thursday’s session with gains, driven by favorable inflation data in the United States that led agents to cut bets on interest rate hikes by the Federal Reserve.

At the end of the operations, the S&P/BVL Peru General Index, the most representative of the Lima stock market, rose by 1.14% to 22,062.23 points.

Similarly, the S&P/BVL Peru Selective Index, which is made up of the most traded shares on the market, rose 1.93% and stood at 585.53 units.

During the session, shares of 69 companies were quoted, of which 50 rose, 9 fell and 10 did not register a variation.

All sectors presented gains: mining (1.51%), construction (1.44%), financial (1.07%), industrial (0.68%), consumption (0.55%), services (0.36%) and electricity (0.36%).

Among the local stocks that rose the most were Cementos Pacasmayo (2.00%), Compañía de Minas Buenaventura (1.95%) and Alicorp (0.74%).

In contrast, those that fell are Aceros Arequipa (-1.34%) and Ferreycorp (-0.86%).

According to Cesar Romero, Head of Research at Renta4 SAB, US stocks posted outsized gains today, posting their biggest one-day gain in two years, as Wall Street cheered lower-than-expected inflation data and monitored election tallies. half-period.

The consumer price index (CPI) for October reflected a 7.7% increase from a year ago and a 0.4% increase from the previous month, better than Wall Street expected. Economists surveyed by Bloomberg called for a 7.9% annual increase and a 0.5% monthly gain.

Moderation in inflation data again fueled the possibility that the Federal Reserve could ease the pace of its monetary tightening campaign, with investors shrugging off Chairman Jerome Powell’s assertion earlier this month that a policy change is not imminent.

Latin American markets traded with strong gains on Thursday, buoyed by favorable inflation data in the United States that prompted agents to cut bets on interest rate hikes by the Federal Reserve.

According to the Reuters Agency, the consumer price index rose 0.4% last month, after increasing that same margin in September, the Labor Department reported on Thursday.

The gains in the region were led by the Colombian peso, which appreciated 1.64% to 4,800 units per dollar, in its third day of recovery after a few weeks of strong depreciation; while in the stock market the MSCI COLCAP index fell 0.92% to 1,238.03 points.