Five Chilean firms lose US$1.75 billion in market value after Lula's victory
Luiz Inácio Lula da Silva's victory hit markets in Brazil and across the region. The Santiago stock exchange fell 1.59% and Chilean shares with high exposure to Brazil were the hardest hit: Latam dropped 5.80% and Enel Américas 8.58%. According to XTB estimates, the airline lost US$771 million in market value and the utility US$820 million; together with Cencosud, CMPC and Empresas Copec, the five firms' combined loss reached US$1.75 billion. The Brazilian market destroyed US$122.154 billion in a single day.
In 45 seconds
- Latam and Enel Américas accounted for about 91% of the drop in market value among Chilean firms, with US$771 million and US$820 million respectively.
- Cencosud lost US$89 million, CMPC US$46 million and Empresas Copec US$24 million, for a total of US$1.75 billion across the five companies.
- The Brazilian stock market destroyed US$122.154 billion in a single day, equivalent to about a third of Chile's annual GDP.
Read the full story at La Tercera
IASummary generated by artificial intelligence from a story by La Tercera. It may contain errors: the original source prevails.
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