Lima stock exchange shows slight drop, still performing well

The Lima Stock Exchange (BVL) closed today with mixed indicators, after six consecutive days of increases, on a day that brought heavy trading and a significant drop in US exchanges.

The General Index (IGRA), most representative of the exchange as a whole, dropped 0.11% to 22,969 points; while the Selective Index (ISEL), which represents the 15 most traded stocks, went up by 0.28% to 39,914 points. 3,855 transactions summed to a total of 198.2 million soles traded (US$62.5m).

Among the heaviest losses by specific shares were Scotiabank (-7.66%), Minera Corona (-5.56%), Cartavio (-5.46%) and J.R. Lindley (-3.51%).

Coril SAB analyst Percy Yamamoto said that the continued upsurge of the Lima Exchange could have to do with profits by investors in sectors linked to internal demand, so he considers a downward correction a possibility.

The increase in the Selective Index is due in particular to rises in stock value of a number of mining firms such as Southern, Perubar and Cerro Verde, as well as industrial and agroindustrial companies such as Aceros Arequipa and, this year’s big winner, Pomalca.

The drop in the General Index mirrored other markets in South America, as well as the New York Stock Exchange, where the Dow Jones index dropped 1.11% with Nasdaq and Standard & Poor’s showing drops of 1.65% and 1.40% respectively.

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