The S&P Merval’s leading Argentine Stock Exchange and Market Index (BYMA) gained 1.2%, to a historical maximum level in pesos of 85,290 units, thus accumulating an improvement of around 10% in the last eight wheels.
The defeat of the ruling party in recent primary elections (PASO) led to the announcement of various economic measures to try to regain ground lost in the elections amid high inflation and slow negotiations with the International Monetary Fund.
“The local market re-enters in a context of elections and with the passing of the days we can observe through the volume traded that the interest in Argentine shares grows”, said Priscila Bruno, an analyst at Rava Bursatil.
The S&P Merval improves “in a global environment more favorable to risk after the minutes of the Fed (US Federal Reserve) that would clear the idea of a rate hike sooner than expected”, said settlement and clearing agent Neix.
In the fixed income segment, dollar-denominated bonds traded with the majority of losses in the local stock market, with the Bonar 2035 (-1.5%) at the top of the losses. Against this, the Argentine Country Risk remained stable at 1,639 points.
Among the bonds in pesos, on the other hand, those adjustable by CER advanced up to 1.4% (PR13), after last week it was known that inflation accelerated to 3.5% in September, a figure above market expectations.
Instead, the titles dollar linked recovered and rose up to 0.5%.
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