Santiago, Feb 22, 2026, 05:48 (CLST) — Market closed.
- Chile’s IPSA edged 0.42% higher Friday, halting a three-day losing run.
- Copper wrapped up the week at about $5.78 per pound as inventories climbed, according to Cochilco.
- Next up for local traders: Chile’s producer prices and January activity data, both set for release this week.
The S&P/CLX IPSA snapped a three-day slide on Friday, closing at 10,855.08, up 0.42%. It kicked off the session at 10,809.15 and swung from a low of 10,745.67 to a high of 10,866.91 before settling.
Markets bounced after the U.S. Supreme Court wiped out President Donald Trump’s global tariffs, trimming one of the trade story’s lingering risks. Chilean assets, tightly linked to global risk sentiment and commodities, can take a hit when investors abruptly shift from “risk-on” to “risk-off.” Reuters
Rates factor in here as well. The advance estimate put U.S. GDP growth for the fourth quarter of 2025 at 1.4% annualized, and the Fed’s favored inflation gauge came in above what plenty of investors had been hoping for.
December’s PCE price index climbed 0.4%, showing a 2.9% annual increase, the U.S. Bureau of Economic Analysis said. Core PCE matched the monthly gain, up 0.4%, with the year-on-year rate at 3.0%. Persistent inflation tends to prop up U.S. yields, putting the squeeze on flows to emerging markets.
Copper is still Chile’s key export lever. According to state copper agency Cochilco, the metal finished the week at $5.78 per pound—a 0.17% bump from the previous Friday. Visible stocks increased, and the spot price slipped below the three-month contract, hinting at softer demand for immediate supply.
Entel, CAP, and Parque Arauco were out front in Friday’s rally in Santiago, local market reports showed. Emanoelle Santos at XTB Latam called the court decision a move that “trimmed a risk” and helped ease some of the trade-uncertainty premium. Renta 4’s Matías Serani cited “positive bias” globally after the ruling, plus some targeted action in tech. La Tercera
The IPSA zeroes in on Santiago’s biggest and most actively traded stocks. Banks, utilities, retailers, and commodity players all jockey for position in this daily back-and-forth.
Chile’s “dólar observado” settled at 866.74 pesos per dollar on Feb. 20, up from 863.29 the previous day, according to central bank figures. Exporters may see a boost to peso-denominated earnings from the currency’s slide, though it also raises questions for inflation by making imports pricier. si3.bcentral.cl
The Bolsa de Comercio de Santiago is open weekdays from 9:30 a.m. until 5:00 p.m. local time, taking weekends off.
Chile’s data docket looks crowded. Tuesday brings January producer prices, then on Friday, the calendar fills with numbers on copper production, industrial output, manufacturing, retail sales, and unemployment—each for January, per Trading Economics’ schedule.
The IPSA’s recent slide has left nerves frayed. Traders will be watching those data releases: upbeat retail sales could lift domestic-demand stocks, but softer mining or industrial figures risk dragging down both earnings outlooks and the peso together.
The tariff saga may not be over just yet. Trump on Saturday announced plans to hike the global tariff rate on all U.S. imports, moving it from 10% to 15% after the Supreme Court’s decision—meaning trade headlines could linger into the coming week.
Next session, traders eye Monday’s open to see if Friday’s rebound has legs, but attention will soon shift to Tuesday’s producer-price data. Then comes Friday’s key batch of January activity figures—investors want signals on growth, inflation pressure, and just how much breathing room Chilean stocks might get to steady themselves.
