The S&P Merval stock index rose 0.93% to 119,791.60 units, after improving by a similar percentage the day before (0.94%) and losing 4.03% on Monday.
“The dollar Merval returned to June values. Short-term expectations have changed but this is far from a long-term confidence shock,” Research for Traders said.
He added that “price recovery is due to political signals, many companies announced buybacks of their own shares” and estimated that “entrepreneurs see their shares on the floor and in the absence of a better destination they decide to bet on the business. It is a very good internal signal, although it does not mean that they are going to go up.”
For its part, the Argentine papers listed on Wall Street operate with the majority of increases of up to 3.5% led by Mercado Libre in the run-up to the presentation of its balance sheet for the second quarter, followed by Edenor (3.1%) and Cresud (2.1%). In the negative territory, Ternium starts the day with a drop of 3.2% after announcing that it expects the company’s revenues to decrease in the third quarter of 2022 due to lower steel prices in the international market.
In his quarterly report, Ternium It said it expected production costs per tonne to rise, which would likely lead to lower adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter compared to the second quarter.
Source: Ambito
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