July 25, 2021

Latin American stock markets rise after the elections in Brazil and caution in New York

Latin American stock markets rise after the elections in Brazil and caution in New York



The majority of Latin American stock markets today closed with gains, in a mixed day for Wall Street, its referent, which remains cautious due to the rise in US interest rates. and after the election day in Brazil, which led to a rebound in Sao Paulo.

The Dow Jones Industrials, the key New York indicator, added 0.15% and ended at 26,486.78 units, while the S & P 500 fell by 0.04% to 2,884.43 points.

The composite index of the Nasdaq market, in which the technological firms are quoted, finished in 7,735.95 whole after falling 0.67%, in a working day despite the Columbus Day holiday in the US.

Traders followed two concerns in this day: the rise in interest rates and the improvement of public debt bonds in the US, as well as their continuing tense relationship with China.

Last week the US Federal Reserve raised interest rates for the third time this year, to between 2% and 2.25%, which has generated investor skepticism to this day.

This was also compounded by a negative behavior on the other side of the Atlantic, with Milan (-2.43%), Frankfurt (-1.36%), London (-1.16%), Paris (-1.10%). and Madrid (-0.59%) in red.

However, the Latin American leaders managed to get afloat, on a day when Lima did not operate as a holiday.

The Ibovespa of the Sao Paulo Stock Exchange rose 4.57% animated in the post-election day to the Presidential elections and stood at 86,083 units, after business for 28,997 million reais (about 7,711 million dollars).

The Brazilian market reacted with optimism after the victory in the elections of far-right Jair Bolsonaro, who must go, however, to a second round and to whom investors have given their endorsement for his liberal proposal to "rescue" the economy.

While the Mexican market added 0.08% after placing the CPI at 48,093.10 points, on a day in which 11,644 million Mexican pesos (about 616.4 million dollars) were negotiated.

The Merval index of Buenos Aires advanced 1.25% and ended in 30,547.13 whole, after a financial volume of 864.5 million Argentine pesos (22.5 million dollars).

Santiago's IPSA closed with a positive variation of 1.28% and was parked at 5,327.40 units, after adding operations for 102,073,228,347 Chilean pesos (about 149.66 million dollars).

On the negative side, the Colombian Colcap lost 0.66% and stood at 1,485.16 points, after transactions for 58,874 million Colombian pesos (about 19.3 million dollars).

And the Global Bonds index of the Stock Exchange of Montevideo subtracted 0.01% and was placed in the 107 whole, after reporting operations for 6,546,533 Uruguayan pesos (about 198,101 dollars).

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

Market Closing Points

SAO PAULO +4.57% 86,083

MEXICO +0.08% 48,093.10

BUENOS AIRES +1.25% 30,547.13

SANTIAGO +1.28% 5,327.40

COLOMBIA -0.66% 1,485.16

LIMA Festivo

MONTEVIDEO -0.01% 107

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