On November 19, Argentines will go to the polls to elect a new president and in that context investors will rearrange their portfolios.
He S&P Merval falls almost 3% this Tuesday, November 7, so the local actions experience major falls in this session due to portfolio rearrangements Facing the presidential runoff in which the Minister of Economy will compete Sergio Massa and libertarian leader Javier Milei. However, in NY the ADRs they rise up to 4.9%.
In the local market, the leading index S&P Merval loses 2.6%, to 620,687.59 units, after the inactivity on Monday due to the celebration of the “Banker’s Day” and accumulating a loss of 2.79% last week.
For their part, local company securities fell up to 5.4%, with some exceptions, led by Edenor, YPF (-5%)they follow him Telecom (-4.4%), Macro Bank (-4%), Galicia Bank (-3.8%), Aluar (-3.7%). The only increases are Black Hill (+2.5%), Transener (+1.3%), Cresud (+0.5%) and Supervielle Bank (+0.1%).
“Already in the last two weeks before the runoff, attention continues to be concentrated mainly on the electoral signals in order to try to elucidate not only a result for the second round but also how the political map would then follow in the face of the economic challenges to be urgently faced before the second round. the accumulated imbalances,” said the economist Gustavo Ber.
On November 19, the Argentine people will go to the polls to elect a new president, who will assume the presidency on December 10.
ADRs bounced up to 5%
In New York, local titles rise up to 4.9%, led by IRSA, Cresud (+4.5%), Central Port (+2.7%), Black Hill (+2.3%) and Southern Gas Carrier (+2%). The only casualty belongs to Bioceres (-0.9%).
Source: Ambito
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