IPSA Rises 1.9% as Peso Jumps 2% | Chile Market Report, Oct 5
Key Facts
- The S&P IPSA rose 1.91% to 11,125 points as Latin American stocks followed Brazil higher (RT).
- The peso gained about 2%, with the dollar down to about 971 pesos, the biggest one-day fall in the dollar in more than a year (La Tercera). Local press quoted closes of 972.5 to 973.2.
- The budget office Dipres said it will sell up to US$600 million a week during October to add dollars to the market. The dollar fell sharply after the news (La Tercera).
- Falabella gained 2.90%, Banco de Chile 1.31% and Copec 1.35%. Bci fell 0.91% (RT).
- In New York, the Chile ETF ECH rose 2.43% to US$38.00. Copper rose about 1% (RT; La Tercera).
Today’s Focus
Chilean stocks rose and the peso jumped on Monday. The S&P IPSA, the benchmark of the Santiago exchange, closed at 11,125 points, up 1.91%.
The bigger story was the currency. The dollar had risen five sessions in a row. On Monday it touched about 995 pesos and then fell to about 971 after the government’s budget office said it would sell dollars.
What matters today. Chile is the world’s largest copper producer, so US investors in copper miners and in Chile-focused funds watch the peso closely. Its rise eases import costs and lifts the dollar value of Chilean assets.
01 The session in one read
The IPSA gained 1.91% to 11,125 points. Chile followed a regional rally led by Brazil, where the Ibovespa jumped 7.70% after Sunday’s election.
The peso reversed an early slide. The dollar opened higher and touched about 995 pesos, then fell after an announcement from the Dirección de Presupuestos (Dipres), the budget office of the finance ministry. Dipres said it would sell up to US$600 million a week in October in deals with financial counterparties (La Tercera).
The RT close was 970.78 pesos per dollar, down 1.99%. Local press quoted 972.5 (La Tercera) and 973.21 (Diario Financiero) because the close times differ.
The dollar sale was the cleanest cause of the peso’s fall, and the stock gain came with a regional tide. Both effects can fade.
Dipres’s plan lasts one month, so the next test is the weekly sales and Thursday’s inflation print.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| S&P IPSA | 11,125 | +1.91% | Broad gain |
| USD/CLP | 970.78 | −1.99% | Dollar’s biggest daily fall in over a year |
| S&P 500 (US) | 7,774 | +0.66% | Supportive backdrop |
| ECH (US-listed Chile ETF) | US$38.00 | +2.43% | Dollar return includes the peso’s gain |
A falling USD/CLP rate means the peso gained value. The dollar’s fall ended five straight sessions of gains (Diario Financiero).
The IPSA tracks 30 of the most traded companies on the Santiago exchange.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPSA | 11,124.65 | +1.91% | — | 10,916.57 | 11,210 | 10,984 | 1,513,213,483 |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| COPPER | 6.61 | +0.03% | +46.70% | 6.61 | 6.71 | 6.61 | 39,543 |
| SQM-B | 65,305 | -0.84% | +49.03% | 65,860 | 66,949 | 64,978 | 76,539 |
| COPEC | 5,964 | -1.09% | -11.70% | 6,030 | 6,100 | 5,960 | 634,331 |
| BSANTANDER | 78.37 | -2.28% | +35.94% | 80.20 | 81.69 | 78.34 | 36,288,711 |
| FALABELLA | 6,334 | -1.48% | +23.28% | 6,429 | 6,450 | 6,300 | 26,085,814 |
| ENELAM | 87.09 | +0.10% | -10.13% | 87.00 | 87.40 | 86.50 | 13,106,417 |
| CENCOSUD | 1,946 | -2.19% | -35.30% | 1,990 | 2,010 | 1,945 | 966,528 |
| CMPC | 1,020 | -1.96% | -29.10% | 1,040 | 1,050 | 1,015 | 3,526,677 |
| BANCO CHILE | 184.96 | -1.01% | +32.87% | 186.85 | 189.99 | 184.33 | 18,101,240 |
| LATAM AIR | 24.08 | -1.11% | +16.61% | 24.35 | 24.59 | 23.88 | 573,612,753 |
| SOUTHERN COPPER | 193.97 | -0.26% | +104.01% | 194.48 | 199.36 | 192.59 | 367,102 |
03 Why it moved — dollar sales and Brazil
The government’s announcement was the trigger on the currency. Dipres plans to sell up to US$600 million a week through October. Traders read it as a signal that officials want a firmer peso (La Tercera).
Brazil gave the regional lift. The Ibovespa’s 7.70% gain pulled other emerging-market stocks higher, and Chile’s ETF in New York rose 2.43%.
Copper also rose. Three-month Comex futures gained about 1%, though sources differ on the exact level (La Tercera; Diario Financiero).
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Falabella (FALABELLA) | +2.90% | — | Retail group |
| Banco de Chile (CHILE) | +1.31% | — | Bank |
| Copec (COPEC) | +1.35% | — | Fuel and forestry group |
| Cencosud (CENCOSUD) | +1.06% | — | Retail group |
| SQM-B (SQM-B) | +0.72% | — | Lithium producer |
| Bci (BCI) | −0.91% | — | Lender |
Retailers and banks led. A stronger peso lowers imported goods costs, which helps retailers such as Falabella and Cencosud.
Bci was the one large name that fell in this group.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Ibovespa | Brazil | +7.70% |
| S&P Merval | Argentina | +3.68% |
| COLCAP | Colombia | +2.69% |
| S&P IPSA | Chile | +1.91% |
| S&P/BMV IPC | Mexico | +0.69% |
Chile ranked fourth of five. It gained less than Brazil, Argentina and Colombia, but more than Mexico.
06 The technical picture
The IPSA closed at 11,125, up from 10,917 on Friday.
The peso’s low point of the day was about 969.60 and its high about 994.90 per dollar (La Tercera). A close near 970 puts the currency far from the 995 area it touched in the morning.
07 What to watch
- Chile trade balance, Wednesday 7 October, 11:30 UTC: Forecast US$1.25 billion against US$1.69 billion before (RT calendar).
- September inflation, Thursday 8 October, 11:00 UTC: Forecast 0.8% for the month and 4.5% for the year, against 0.6% and 4.1% before.
- Dipres dollar sales: Weekly sales of up to US$600 million through October.
- Brazil’s runoff on 25 October: Regional stocks may follow the polls.
Background: IPSA Gains 0.08% as Peso Slips to 989.60 | Chile Market Report, Oct 2.
Frequently Asked Questions
What is the S&P IPSA?
It is Chile’s main stock index. It tracks 30 of the most traded companies on the Santiago stock exchange.
Why did the Chilean peso jump on Monday?
The budget office Dipres said it would sell up to US$600 million a week in October. The dollar fell about 2% after the news.
How much did the IPSA rise?
It rose 1.91% to 11,125 points.
Why does Chile matter to US investors?
Chile is the world’s largest copper producer and a large lithium supplier. US-listed funds and miners follow its peso and stocks.
Sources: La Tercera, Diario Financiero, RT. Market data: RT; exchange figures from Bolsa de Santiago.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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