BVL closes with losses amid lower U.S. Treasury bond yields.

The Lima Stock Exchange (BVL) ended Thursday’s session with losses due to the dragging of the consumer, mining, industrial and construction sectors, amid lower US Treasury bond yields.

At the end of trading, the S&P/BVL Peru General Index, the most representative index of the Lima stock exchange, fell 2.83% to 18,500.5 points.

Likewise, the S&P/BVL Peru Selective Index, which is made up of the most traded shares in the local market, fell 3.28% to 481.58 units.

By sectors, those with the highest losses were: mining (-3.62%), industrial (-1.70%), mining (-6.07%), industrial (-2.12%) and construction (-2.49%). While the sector that finished in the green was financials (0.10%).

Prospects for Wall Street to start the session higher helped European stocks recover from a new low for the year on Thursday, as investors weighed the risk of sharp interest rate hikes pushing economies into recession.

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According to Reuters, strength in U.S. futures helped European stocks, which reversed a drop that took them to a 2022 low on weak economic data from Germany and France.

U.S. Treasury yields were holding lower on Thursday after Federal Reserve Chairman Jerome Powell on Wednesday underscored the central bank’s commitment to reduce inflation at all costs and acknowledged that a recession was “certainly a possibility” in testimony before the U.S. Senate Banking Committee.