Thanks to the good performance of this Wednesday, the Santiago Stock Exchange has broken more than thirty times in the 2025 course, favored by the good results of Falabella and other companies that are improving the perspectives of domestic demand, beyond the winds against which the commercial war promoted by the United States implies, and which has the Federal Reserve in “wait and see” way.
The S&P IPSA climbed 1.29% to 8,173.81 points at the close of the market, and thus achieved its 31 record so far this year. The index reached a half morning a peak of 8,195.36 units, as close as it has become the mark of 8,200.
“While Chile is very exposed to the global economy, it is presenting good dynamics at the corporate level. When one sees the results of Chilean companies – especially those that have to do with internal demand – we are seeing good results: in the electricity sector and in the sector retailas in the case of Falabella. Tomorrow Cencosud reports, and the shopping centers, which they already reported, all showed good performances in general, “he told DF BICE INVERSIONES VARIABLE RENTAL, ALDO MORALES.
The action of Falabella (2,73%) He gave a strong impulse to the IPSA, thanks to his high internal weighting, after knowing that the company He achieved profits for $ 192 billion in the first quarter, exceeding estimates ($ 133 billion in the Bloomberg consensus).
The greatest advances within the IPSA were those of Cenco Malls (7.29%), Enel Chile (3.54%) and Cencosud (3.54%). At the level of the bag sectors, real estate (2.6%), discretionary consumption (2.2%) and basic consumption (2.1%) They were outlined as the winners.
“The surprising rise in the results of Falabella, promoted by a good performance of its operations in Chile, allows you to keep expectations around domestic consumption. However, we consider that the spaces for additional assessments in the index are limited, given the high global uncertainty and a price of copper that should be adjusted downward, “said the Local Variable Investment Variable Sub -Manager Security, Nicolás Libuy.
In addition, China today announced several measures to stabilize the markets and underpin their economy before the meeting scheduled for this weekend in Switzerland with a delegation headed by the US Secretary of the Treasury, whose objective is to relax commercial relations between both powers. The Popular Bank cut in 50 base points (PB) the reserve requirements and in 10 bp the reverse repurchase rate to seven days.
Libuy recalled that “one of the main drivers of the IPSA during the year has been the solid dynamism in the price of copper. In this context, the new favorable signs for a greater demand for metal, either by a Improvement in the perspectives of global trade or for a more moderate deceleration in China, supported by recent stimulus measures, they contribute to sustaining current valuation. “
For its part, Morales observed that “in May we have continued to see a very similar trend to what has been the first four months of the year, where The Chilean and Latin America stock market have had positive and better performance than that of emerging markets and the US. This goes along the same lines of an important discount on valuations with respect to the historical average. “
International Bags
After the Fed decision, Wall Street went through volatile moments, but the balance ended up being positive. The Dow Jones rose 0.7%, the S&P 500 won 0.43%and Nasdaq grew 0.27%. Previously, the closure of European markets caught some of the pessimism that was lived during the morning: The continental Euro Stoxx 50 lost 0.63% and the FTSE 100 of London stumbled 0.44%.
Alphabet (-7,26%) -The Google matrix- negatively pressed the Nasdaq technological web Safari. The latest statements of the Apple CEO in this line carried the collapse of Alphabet’s actions.
At 2:00 p.m., the Federal Open Market Committee (FOMC, acronym in English) reported a maintenance of the federal funds rate in the range of 4.25% to 4.5%, as expected. The S&P 500 played minimums of the session after the statement, and later its highest levels of the day.
The announcement of the Fed is “a shot in the bow of the administration, saying essentially, if you read between the lines: ‘its policies are leading to greater inflation and greater unemployment. It is a somewhat hard statement. He says:’ We are not going to be in a hur Global by JPMorgan Asset Management, David Kelly.
After the messages of the Central Bank, an indicator of the global dollar was appreciated, and the short rates remained firm in the general forecast that the Council will opt for three additional cuts of the official type in the remainder of the year.
“Although tariffs could cause a short -term price increase, in our opinion it is unlikely that its impact will translate into sustained inflation. Once the Fed resumes relaxation, the lower rates should reduce the costs of indebtedness of individuals and companies, in our opinion, which favors continued economic growth and business benefits,” He wrote the senior strategist of Edward Jones, Brian Theien.
