Lima stock exchange back in the black, with furious trading and staggering increases

In the first few hours of today’s trading on the Lima Stock Market (BVL), a powerful rallying of investors has led to an increase in the indices that effectively wipes away yesterday’s spectacular losses. By noon the General Index (IGRA or IGBVL) was up 7.26% on yesterday’s close, while the Selective Index (ISEL or ISBVL) of the top fifteen companies traded had put on 7.82%.

A return to calm in Far Eastern markets and a positive outlook on the New York markets have led investors to regain confidence after yesterday’s catastrophic fall, and brisk morning trading could now spell the end of the two-week doldrums that have affected the Peruvian exchange.

Among the major winners, Volcan zinc looks set to recover from its heavy losses yesterday, while sugar, rum and biofuel company Pomalca is once again surging ahead, with a 14.49% gain in the first few hours of today’s trading.