Lima started the day with warm weather and a temperature that can reach 28°, according to the main weather forecast websites. However, this same climate does not occur in its stock market. The Lima Stock Exchange (LSE) The day began with indicators below zero. The General Index (S&P/BVL Peru General) opened the day with a 0.28% drop. The same happened with the selective index (S&P/BVL Peru Select) which slipped 0.3%.
Today we expect to see what the markets’ reaction will be with the inauguration of Donald Trump as president of the United States. Could it be that the Lima Stock Exchange has reacted negatively?
According to Pablo Leno, general manager of Sociedad Agente de Bolsa Renta4, the Lima market has not necessarily reacted negatively to Trump’s inauguration. According to the specialist, what explains the fall of the Peruvian stock indices at the beginning of trading is the holiday in the United States, which with the little liquidity enjoyed by the Lima stock market is reflected in the fall of the indicators.
“The truth is that the trading volume is so poor that it represents absolutely nothing,” Leno said.
He maintained that in the first minutes of the morning, the amount traded in shares is barely S/22,000, not even US$10 thousand, so it cannot be associated with a negative reaction due to Trump’s arrival at the White House.
He said that on the contrary, there are indicators other than Wall Street that reveal that the markets are reacting favorably to Trump’s arrival.
“The Asian (stock market) indices all ended positive. That means that expectations are positive. Also, the S&P 500 and Nasdaq futures are positive and the European stock markets were also up,” he commented.
Coins
According to Leno, currencies like the Euro have also strengthened. In the case of the sun, he indicated that the local currency fell to 3,725 soles per dollar, after it closed at 3,744 soles per dollar on Friday.
“We don’t know what Trump is going to say, because he is very unpredictable. However, the markets are advancing a much more consolidating and much less confrontational pro-globalism speech,” he asserted.
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