The Chilean stock market rises driven by Latam and favorable winds from Wall Street.

Latam’s shares led in performance and trading volumes within the IPSA, after announcing that it is working to relist on the New York Stock Exchange.

The Chilean stock market rebounded on Thursday, propelled by the performance of Latam Airlines Group’s shares and amid increased optimism in Wall Street indices, which remain attentive to the interest rate outlook as the eagerly awaited US non-farm payroll report approaches.

The S&P IPSA rose 0.31% to 6,637.12 points, reclaiming lost ground from the previous session and returning to its highest levels in history. During the morning, it reached an intraday high of 6,667.90 points, slightly below the unprecedented 6,705.61 seen at the beginning of the month.

Latam led the IPSA’s performance, rising by 3.27% to $12.65 per share, and comfortably led in trading volumes, with a turnover of $18 billion, almost double its daily average. The reason? This morning, it announced that it is starting a process to relist on the New York Stock Exchange.

The IPSA’s recovery is supported by external factors. The Nasdaq Composite rose by 1.1%, the S&P 500 climbed by 0.82%, and the Dow Jones ascended by 0.5% on the New York Stock Exchange, which has returned to historic highs.

In Europe, the FTSE 100 in London surged by 0.48% to more than one-year highs.

Additionally, market interest rates, in general, reversed their initial increases of the day.

The market is digesting comments from Federal Reserve Chairman Jerome Powell and the latest unemployment benefit claims data ahead of tomorrow’s non-farm payroll report.

In his speech yesterday, Powell stated that the central bank still considers cutting interest rates this year. However, he reiterated that policymakers need to see more evidence that inflation is cooling towards the 2% target before beginning to cut.