Santiago Stock Exchange had the highest daily rise in more than a decade after the elections

The Santiago Stock Exchange experienced its biggest rise in the last 13 years on Monday, with 9.69% that led to its main indicator, the Selective Stock Price Index (IPSA), to 4,780.91 points, on the day after the first round of the presidential elections. This is its highest level since April 26 of this year and the largest daily percentage increase since October 2008 of the IPSA, in the context of the global financial crisis. The shares that grew the most this day were those of the investor SMU (19.66%), the water supply company Aguas Andinas (19.07%), the energy company AES Andes (19.01%), and the retail conglomerates Cencosud (15.38%) and Falabella (14.90%). Finance Minister Rodrigo Cerda told the press that “indeed, yesterday’s results (in the elections) show an exchange rate that begins to decrease its price levels, we also see the stock market rising, and interest rates also tend to decrease.” I think this is good news,” said the authority, who also explained that the markets have responded positively to the result of the legislative elections, also held this Sunday, and that they drew a Congress in which there will be a “much more moderate discussion.” In the foreign exchange market, the dollar experienced a decline of 17.30 pesos in its price against the Chilean currency at the close of transactions on Monday in the exchange market, which is its worst figure in two years, a result that is explained by the election results on Sunday, according to experts. The US currency managed to cushion during the course of the day the fall of up to 30 pesos that it experienced at the beginning of operations and ended the day at 811 units per dollar, compared to the 800 with which the markets opened.

Original source in Spanish