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Falabella was the best performing role of the day after delivering better results than expected.
The Chilean stock market closed with its fifth consecutive rise with Falabella among the biggest rises after retail released on Tuesday afternoon better quarterly results to those estimated by the market.
In addition, favorable days are expected for trade, since that a possible second withdrawal of funds from the AFPs will stimulate consumption, just around the Christmas shopping season. This would benefit retail stocks in the short term, according to analysts.
The IPSA gained 0.05% on Wednesday, accumulating a rally of 13% in the last five days. The main Chilean stock index did not see a streak like this since June 2020, when it rose six days in a row accumulating an increase of 13.5% at that time.
The main daily increases were registered by Falabella, which rose 3.89%; Cencosud, with 3.47% and Grupo Security, with 1.76%. At the other extreme, the stock that fell the most was Aguas Andinas, which fell -3.10%.
Falabella
Yesterday after the market closed, Falabella reported its third quarter results. “We expect a positive reaction in Falabella’s securities in the short term, as they present an EBITDA during the third quarter + 8.1% over the consensus, “says a report by Banchile Inversiones.
The company reported yesterday revenue, EBITDA and profit of $ 2.486 billion, $ 179 billion and $ 4.3 billion, respectively.
This quarter, the company registered an 11.8% year-on-year increase in revenues ($ 2,485,979 million) “which was in line with our estimates, supported by an impressive recovery of the retail business mainly in Chile thanks to the withdrawal of 10% of the pension funds and the commercial reopening process, as well as the relevant increase in the consolidated GMV in the online platforms of the countries “, says a report by Bice Inversiones.
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