Stocks in Chile dropped on Wednesday, ahead of the central bank monetary policy meeting and amid violent domestic unrest and a general strike by state workers including Codelco, the world's largest copper producer. On Tuesday, President Piñera announced a number of measures such as an increase of minimum pension by 20%, a fast-track a law to introduce a state critical illness cover, and guarantee a minimum wage of $480 a month, to quell protests that has rocked the country in the past few days. The IGPA index was trading 1.3% lower at 24829 around 12:55 PM Santiago time. Historically, the Chile Stock Market (IGPA) reached an all time high of 30712.44 in January of 2018 and a record low of 2960.85 in September of 1998.
The Chile Stock Market (IGPA) is expected to trade at 25239.07 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24600.14 in 12 months time.