In a scenario marked by the uncertainty of the next presidential runoff, stocks are rising in the Argentine stock market.
The Buenos Aires stock market maintains the upward trend of the previous day this Thursday, November 2 in a setting marked by the uncertainty before the next runoff presidential election, where two candidates with opposite political positions will compete, Sergio Massa and Javier Milei, and which favors a prior speculative context.
This Wednesday, the Ministry of Economy published tax collection data for October, which increased 127.4% year-on-year, equivalent to a drop of 7.3% in real terms. The PAIS Tax grew 580.0% y/y nominal (+177.2% y/y real) and VAT 152.9% y/y (-4.6% real).
Meanwhile, the CIARA reported that last month US$744 million were settled in the sector, the worst amount in October since 2006. In monthly terms, settlements fell 63.7% compared to September.
The S&P Merval rises
In that scenario, the S&P Merval gains 4.57%, to 644,402.27 units. This marks a trend of continuity with the previous day, when it rose 4.5%, and after ending October with an improvement of 3.40% amid marked fluctuations after the result of the general elections.
The leading panel actions they rise strongly. The ones that mark further progress They are Ternium (+6.62%), Loma Negra (+5.16%) and Aluar (+5%) and Supervielle (+5%).
“Operators are clearly leaning towards prudence in this stage of increasingly higher political and economic uncertainty Way to runoff“said the economist Gustavo Ber by Studio Ber.
Argentine shares on Wall Street
The ADRs of Argentine companies that operate in Wall Street operate with go up this thursday. They are all on the rise and those that rise the most are those of Telecom (+4.27%), YPF (+3.96%) and Supervielle (+3.87%).
They are all rising in line with a positive trend in the New York Stock Exchange, after the decision of the Federal Reserve (FED), which decided not to modify the reference rate and kept it in the range of 5.25%-5.50%highs in 22 years.
Source: Ambito
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