Chile’s IPSA index falls 0.7%, peso weakens against dollar — The Rio Times
Chile’s main S&P IPSA stock index fell 0.7% on Wednesday to 11,367.47 points. At the same time, the Chilean peso weakened by around 0.9% to about 921.6 pesos per U.S. dollar. This was reported by The Rio Times.
Banks, retail and airlines in the red
The IPSA decline was the second in a row. Mallplaza, which operates shopping centers, posted the largest losses among leading stocks, with its shares falling 2.8%. Latam Airlines shares lost 2.5%, while those of energy conglomerate Copec declined 1.6%.
Shares in Banco de Chile and Santander Chile each fell 1.5%, adding pressure to the index. Shares in lithium producer SQM-B traded more steadily after falling 4.1% during Tuesday’s session.
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Impact of a stronger dollar
The peso weakened amid a strengthening U.S. dollar against most global currencies. The DXY dollar index rose by around 0.2% after the U.S. July PCE price index came in above forecasts at 3.7% year-on-year.
Despite two days of declines, the S&P IPSA remains near its all-time high. The index is about 2.2% below the record 11,627.58 points reached on January 28.
