The S&P Merval index rises 3.06%, after improving 11.79% last week measured in pesos in a day of reduced activity on Wall Street.
In the final stretch towards a defining presidential election in two weeks, The Argentine stock market remained cautious and selectively took positions through hedging methods. in the face of a difficult economic situation.
For its part, the holiday in the US market due to the celebration of ‘Columbus Day’ limits business due to the lack of external references, at times of greater global aversion to risk given the increasingly deep conflict between Israel and the Islamist group. Palestinian Hamas.
The leading stock index S&P Merval rises 3.06%, to 648,174.920 unitsafter improving 11.79% last week measured in pesos.
The shares rise up to 7%, led by those of Aluar (+7.4%), Ternium (+6.75%) and YPF (+4.5%). Meanwhile, there are few papers that are trading lower this Monday, such is the case of Telecom (-1.29%), Central Puerto (-1.74%) and Cresud (-1.41%).
Argentine shares on Wall Street
“There are no signs of an optimistic market and ADRs accumulated (last week) an average decrease of 4%“said Leonel Buccolo of Rava Bursátil.
This Monday, the downward trend of last week continues, with falls of up to 2.8%, on a day in which the fixed income markets and banks remain closed for the holiday in the United States in which the variable income assets, but not fixed income assets.
Those that rose the most are Cresud (+6.05%), YPF (+2.98%) and Bóceres (+2.14%). Those that fell the most are those of Grupo Financiero Galicia (-2.27%), Banco Macro (-1.9%) and Mercado Libre (-1.5%).
Source: Ambito
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