Santiago Stock Exchange falls due to weakness in copper price

Copper prices plunged to one-year lows in London, due to concern over the trade dispute between the United States and China.

SANTIAGO – The Santiago Stock Exchange fell slightly on Thursday, as purchases of external funds in leading securities helped offset the initial pessimism by the marked weakness in the price of copper, Chile’s largest export.

The IPSA index, which groups the main shares of the stock market, fell 0.12% to 5,371.21 points, after falling back to 0.5% earlier. Copper prices plummeted to one-year lows in London, due to concern about the demand in the face of the growing trade dispute between the United States and China, the world’s largest consumer of metals.

Among the losers of the day at the local level stood out the actions of Latam Airlines – of great weight in the IPSA-, which fell by 1.1%, to $ 6,931.90, while the papers of the mining group CAP fell by 0.75 %, to $ 6,226.70.

In contrast, the titles of the retail conglomerate Cencosud gained 1.89%, to $ 1,635.60, to mark a third consecutive advance. While the shares of sugar Iansa recovered slightly this Thursday, after registering heavy losses in the two previous days, right in the middle due to the uncertainty that has generated the possible closure of the Linares plant.

The amount traded in shares on the Santiago Stock Exchange reached the equivalent of US $ 131.6 million, below the recent daily average.–MercoPress