The main Chilean index IPSA reaches a new all-time high.
While global stock markets were generally on standby, the IPSA reached more than 6.500 points, a new all-time high.
While global stock markets were generally on standby awaiting new economic data, the S&P IPSA of the Santiago Stock Exchange rose slightly to a new all-time high on Wednesday.
After reaching 6,500 points for the first time in its history yesterday, the IPSA index continued its upward trajectory. At the start of the afternoon, the IPSA rose by 0.13% to 6,510.89 points, having reached an intraday record of 6,523.91 points during the morning, following its historic close on Tuesday. Today, the main gains were seen in the shares of Itaú (2.87%), Latam (2.07%), and Enel Américas (1.56%).
On Wednesday, BCI Bank announced that it had resumed coverage of Latam, with a recommendation of “overweight” and a target price of $16 per share, implying an upside potential of 35% and being at the high end of compiled projections.
Investors are awaiting more economic data later in the week to glean further clues about when the Fed might cut interest rates, particularly in light of the US retail sales and producer price data to be released on Thursday.
On Wall Street, the Nasdaq Composite fell by 0.52%, while the S&P 500 traded flat after reaching a new record yesterday, and the Dow Jones gained 0.4%. Market participants continue to assess the February CPI data in the US released on Tuesday, which was slightly stronger than expected.
As European markets approached closing, the continental Euro Stoxx 50 rose by 0.36% to historic highs, and the FTSE 100 in London grew by 0.32%. In Asian markets, the CSI 300 of mainland China fell by 0.7%, while the Hong Kong Hang Seng saw no significant changes. The Japanese Nikkei declined by 0.26%.
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