October 21, 2020

Latin American stock markets make gains despite dry braking in Sao Paulo

Latin American stock markets make gains despite dry braking in Sao Paulo



Stock markets in Latin America posted gains today despite the dry braking of the Sao Paulo market, the most important in the region, which broke a streak of three consecutive historical records and ended the euphoria for the new government.

Also, Wall Street, the regional benchmark, closed with significant gains after the Industrial Dow Jones, its main indicator, rose by 0.42 and finish in 23.531,35 integers.

The selective S & P 500 rose 0.70% and stood at 2.5349.69 points, while the composite index of the Nasdaq market, where the main technological groups are listed, added 1.26% and scored 6,823.47 units.

Investors were attentive to the good news regarding the evolution of the negotiations in the framework of the trade war between the United States and China in the new year.

Precisely, the Chinese government expressed optimism about the latest round of trade negotiations with the United States, which began today in Beijing, and stressed that both sides have shown their "will" to reach an agreement to end their disputes.

Among other economic highlights, it was learned that the President of the World Bank, Jim Yong Kim, today presented his resignation at the head of the multilateral organization.

The resignation of Kim, who has held the presidency of the World Bank for more than six years, will be effective from next February 1.

Latin American markets, for the most part, followed the example of Wall Street and the Price and Quotation Index of Mexico progressed 0.89% and closed at 42,834.2 units, with a total of transactions for 12,299 million Mexican pesos (635, 4 million dollars).

The Merval index of Buenos Aires ended with a sharp rise of 2.22% to 33,020.58 points, after movements of 834.51 million Argentine pesos (21.8 million dollars).

The Santiago Stock Exchange posted a marginal rise of 0.02% in its main index, the IPSA, which closed at 5,190.06 points after trading shares for 105,558,962,443 Chilean pesos (155.23 million dollars).

The S & P / BVL Peru General Index ended at 19,491.12 points, after registering a rise of 0.11%, in a session in which 33,052,474 soles (9,842,905 dollars) were negotiated.

The Global Bonds index of the Montevideo Stock Exchange advanced 0.41% to 108.27 points after exchanging securities equivalent to 27,604,295 Uruguayan pesos (849,853 dollars).

On the other side of the coin, the Sao Paulo stock market fell 0.15% and its Ibovespa index stood at 91,699 points at the end of a day with a financial movement of 4,834 million reais (3,976 million dollars).

The Colombian plaza did not operate as a holiday in that country.

The evolution of the Latin American stock exchanges was the following:

Market Closing Points

SAO PAULO -0.15% 91,699

MEXICO +0.89% 42,834.20

BUENOS AIRES +2.22% 33,020.58

SANTIAGO +0,02% 5,190.06

COLOMBIA FESTIVO

LIMA +0.11% 19,491.12

MONTEVIDEO +0.41% 108.27

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