The S&P Merval rebounds driven by energy stocks and ADRs rise up to 5%

The S&P Merval rebounds driven by energy stocks and ADRs rise up to 5%

November 1, 2023 – 13:05

The S&P Merval rises 4.1%, to 602,864.34 units, after falling 2.1% in the previous round.

The Buenos Aires stock market bounces this Wednesday, November 1, thanks to boost of energy companies. Meanwhile, the Argentine papers in New York rise until 4.9%. This happens in a scenario marked by uncertainty before the next runoff presidential, where two candidates with opposite political positions will compete.

In that framework, the S&P Merval rises 4.1%to 602,864.34 units, after falling 2.1% in the previous round. Throughout October, the stock index accumulated over October a ascent of only 2.95%after collapsing almost 27% after the first electoral round.

The leading panel actions operate with total of raises. Those that mark the greatest progress are those of Cresud (+7.8%), YPF (+6.3%) and Southern Gas Carrier (+5.4%).

Argentine shares on Wall Street

For their part, the papers of Argentine companies that operate in Wall Street operate with most rises. Those that rise the most are those of YPF (+4.9%), Southern Gas Carrier (+4.3%); and BBVA (+3.7%).

Source: Ambito

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