Stocks and ADRs
The shares of Argentine companies listed on Wall Street climb up to 5% this Friday, October 21, thanks to Edenor. However, the country risk measured by JP Morgan banking rises more than 1%.
Among the shares that rose the most were those of Edenor (+5%); Take off (+2.8%) and Cresud (+2.8%). Transportadora de Gas del Sur (+2.5%) and Banco BBVA (+2.3%) also led the increases.
In this context, the local stock market round rises due to selective purchases among leading papers, one day after the Central Bank (BCRA) decided to maintain its reference rate in the face of signs of a brake on the galloping inflation suffered by the third largest economy in Latin America.
The S&P Merval Buenos Aires index gains 1.7%, to 138,409.13 points after a retraction of 2.03% in the previous three sessions.
The shares that lead the increases in the leading panel are those of Central Puerto (+3.5%); Banco BBVA (+3.3%) and Transportadora de Gas del Sur (+2.8%).
It should be remembered that The BCRA kept its rate unchanged at 75% per year, after high inflation showed a slight slowdown in September when analysts project it towards 100% by 2022.
Internationally, amid fears of an inevitable recession, every macro indicator in the United States, the political crisis in England and the rekindled war in Ukraine was closely watched.
Operators await possible new measures that will help curb the galloping inflation of almost 100% by 2022, apart from the high fiscal deficit and the defense of the reserves of the central bank (BCRA).
Source: Ambito
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