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In Europe markets celebrate the new economic measures by the United Kingdom to lift the island’s economy.
The stock markets reaffirm the increases obtained yesterday, when the worst scenario expected by analysts was fulfilled: a narrow and controversial election presidential in the United States. But investors did not despair and saw an opportunity.
At the money tables they are eagerly watching the odds of a tax hike diminish, as the senatorial elections left a divided Congress. With this, mel Dow Jones was up 1.95%. While the S&P 500 rose 1.95% and the Nasdaq technology expanded 2.59%.
From CNBC they indicate that with these figures the squares are located with their highest weekly earnings since April. In the period, the Dow rises more than 6%, the S&P 500 and the Nasdaq do so more than 7% and 8%, respectively.
Landing in the Old Continent, the main indicators closed in positive territory. Although there is still no confirmation of whether or not Biden will take the presidential seat of the White House and if there will be an eventual judicialization of the election as proposed by Trump, Investors in Europe are focusing on monetary stimulus for the moment.
The Bank of England announced a US $ 195 billion bond purchase program to help the economy in the face of the second wave that hits the UK. Britain’s governing body, which expects an economic contraction this quarter, has relaxed its monetary policies four times since March, helping to keep the economy afloat in hopes of stimulating domestic demand. The measure raises expectations for the European Central Bank, which has already advanced new stimuli for the December meeting.
In this way, the Euro Stoxx 50 rose 1.72%, the DAX in Frankfurt climbed 1.98% and the CAC 40 in Paris did so by 1.24%.
IPSA gets on the bandwagon
At the local level, SP IPSA had a good session, soaring 5.28% – its biggest rise since March- and recovering a lot of lost ground, since in the last days while most of the other bags rose, the selective took the opposite path.
From the market, they indicate that investors are beginning to adjust their portfolios to a scenario in which Biden is the new US president. With this, they are looking at a better relationship with China, which leads to a better outlook for emerging markets such as Chile.
It may interest you: Goldman Sachs puts the Chilean peso as one of the currencies to bet on with a Biden win
On the one hand, the market is rewarding CCU shares, which rose 3.03% after reporting better quarterly results than expected by the market. In fact, BICE Inversiones highlighted in a report the higher income that the company linked to the Luksic group had due to higher average prices in Chile and the International Division.
Bank stocks also held on the stock market. Analysts predict that in the event of a possible second withdrawal of 10% of the AFPs Financial entities could be the big beneficiaries, since some people will use their pension resources to pay off debts, as happened with the first withdrawal and that had a positive impact on the levels of bank delinquency. Thus, the two main banks in the industry had a day with quite dynamism in their actions: Santander rose 8.75% and Banco de Chile followed closely, climbing 8.15%.
SQM-B also stood out in the Santiago wheel. The share of the non-metallic mining company advanced 9.67%. Analysts indicate that the company could be one of the great beneficiaries of the US presidential election that would be leaving Biden as eventual president with a Congress without a clear majority.
The same reasons pushed the retail papers. Falabella advanced almost 10% and Cencosud did so with 6.33%. And it is that in the market they point out that retail would be one of the great beneficiaries of another retirement of pension funds materializing, pushing consumption. Thus, Parque Arauco also benefited, which expanded by 1%.
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