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From the market they comment that the prices of local assets have already internalized the most possible result of Sunday, but they assure that the rise was due to speculative bets.
Little movement was seen in the local stock market on the last day before the country decides if we will have a new Constitution, and what would be the mechanism to achieve it. But In the last week’s transactions, there has been a bit more optimism in the market regarding the process.
The benchmark S&P IPSA corrected slightly today, with a fall of 0.09% which left it at 3,807.95 points at the end of the operations, but anyway it was not enough to embitter the rally that the selective experienced this week.
With everything, accumulated a rise of 4.60% since last Friday, which left it as the fourth best performing stock market in the world this week.
It may interest you: The three scenarios that the market handles for Chilean assets after the plebiscite
During this periodThe shares that increased the most were the titles of the holding Empresas Copec and those of three of the largest banks in the country.
The entity linked to the Angelini group rose 11.55% between Friday and Friday, while there were increases of 10.45% in Banco Santander Chile, 10.44% in Bci and 10.08% in Banco de Chile.
What moved the market? According to local market agents, the prices of the different local assets they already have internalized a victory of the Approval and the Constituent Convention in this Sunday’s vote, but they assure that the rise was due to speculative bets.
Given that investors already considered a victory with around 70% for the Approval – echoing the surveys – some sectors of the market may have used this week to anticipate the election and benefit from any boost that the local stock market may experience if the result is narrower than that.
It may interest you: In the week prior to the Plebiscite, the Chilean peso was the second best performing currency in the world
Anyway, market executives say, it is likely that, unless there is a surprise in the elections, the beaten national stock market can regain some ground. After this milestone, one of the sources of uncertainty dissolves, leaving local capital focused on the US presidential election and a potential second retirement of pension funds.
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