Lima Stock Exchange closes the day with gains in 13 indicators and rises 1.70%

The Lima Stock Exchange closed the session this Friday, September 2, with gains in most of its indices, noting 13 indicators up and only 3 down. Thus, the S&P/BVL Peru General index, the most representative of the Lima stock market, rose 1.70% to 18,758.27 points.

For its part, the S&P/BVL Peru Selective index, which is made up of the most traded shares in the local market, gained 2.18% and stood at 490.25 units.

The mining sector was the one that reported the most gains on the day with an advance of 2.94%, followed by construction (1.62%), consumption (1.40%), industrial (1.08%) and financial (0 .57%). On the other hand, the items that registered losses were services and electricity with 0.43% and 0.44%.

Among the local companies that registered the greatest losses were: Compaa Minera San Ignacio de Morococha (-14.00%), Scotiabank Peru (-5.26%) and Candente Copper (-4.17%). While those that registered gains were: Volcan Compaa Minera (8.00%), Compaa de Minera Buenaventura (7.37%) and Alicorp (3.33%).

While data on Friday showed US employers hired more workers than expected in August, but subdued wage growth and an increase in the unemployment rate to 3.7% suggested there may be less pressure on the Federal Reserve to deliver a third interest rate of 75 basis points.

Initially, this buoyed investors and helped the S&P 500 Index (.SPX) rise more than 1%. But the gains were reversed into losses during the day, dogged by concerns that a 75 basis point rate hike was still on the cards. The S&P 500 and the Dow Jones Industrial Average (.DJI) each lost 1.1%, and the Nasdaq Composite (.IXIC) fell 1.3%.

With information from Reuters.

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