Thus, the stock market scored its new record high of 92,500.7 points within minutes of the opening, against the previous record of 92,124.21 units last Wednesday.
Argentines will go to the polls on November 14 to renew 50% of the Chamber of Deputies and a third of that of Senators, with an officialism that comes from a tough defeat in the September primaries and with chances of losing the majority in The congress.
Brokerage Allaria Ledesma y Compañía raised the target price for steelmaker Ternium Argentina to 150 pesos per unit by the end of 2022, plus a dividend on the agenda, keeping the ‘hold’ recommendation.
Wall Street
US stocks rose and major indices hit record highs, after the Federal Reserve said it will begin cutting its monthly bond purchases in November with plans to end them in 2022, an announcement investors were expecting.
The S&P 500 and the Nasdaq posted record closing highs for the fifth consecutive session, while the Dow Jones Industrial Average did so for the fourth straight day.
The benchmark S&P 500 turned into positive territory and ended up solidly higher after the US central bank announced its plans to start reducing its bond purchases.
Investors had widely anticipated the decision as the Fed is withdrawing its monetary support as the economy recovers from the coronavirus pandemic.
The Dow Jones Industrial Average rose 104.95 points, or 0.29%, to 36,157.58 units, while the S&P 500 gained 29.92 points, or 0.65%, to 4,660.57 units. The Nasdaq Composite added 161.98 points, or 1.04%, to 15,811.58 points.
Bonds and Country Risk
The JP Morgan bank’s country risk fell four units to 1,737 basis points. This index restarted on September 10, 2020 in the area of 1,083 points after a millionaire sovereign debt restructuring.
Sovereign bonds in dollars again did not catch up with the excellent moment that equities are going through. In this sense, both laws generally closed with mixed quotes.
Among these, the largest bonds traded (AL30 and GD30) concluded negative, which shows the little enthusiasm that they transfer to price.
Source From: Ambito
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