The Buenos Aires stock market registers a new rise a few days after the second round in which global markets react to the words of the president of the US Federal Reserve about the rate.
The Buenos Aires stock market rises strongly this Friday, November 10 and doubles the bet of the previous day, when he rebounded strongly after registering three falls in a row. This occurs within the framework of the final stretch towards the presidential runoff and after the news that was known regarding the rate policy of the United States Federal Reserve (Fed).
With shares climbing up to almost 10%, the S&P Merval climbs 5.8% to 660,890 points. The leading panel is recovering from the sharp falls it suffered between Friday of last week and this Wednesday, three sessions in which it lost 10.6%.
Measured in dollars (CCL), The leading panel reaches a two-week high: it gains 4.4% to 748 points.
In that framework, the actions that make up the leading panel almost all operate upwardwith increases of up to 9.5%, headed by Central Puerto. They are followed by the papers of YPF (+7.7%), Transener (+6.8%) and Aluar (+6.6%).
“The Fed pauses rate hike and the employment and inflation data in the United States had increased the risk-on in the international market, taking the S&P500 to a rise of 6% in a few days. But the enthusiasm seems to have been cut off by Powell’s statements yesterday and a weak Treasury tender for 30-year bonds,” Banco CMF warns in a report.
And they anticipate that we are likely to continue operating in a market with high risk-free rates for longer, which puts pressure on emerging markets.
Argentine shares on Wall Street
On Wall Street, the shares of Argentine companies operate with a majority of increases. The ADRs that show the greatest increases are those of YPF (+4.1%); Vista Energy (+3.6%); and Transportadora Gas del Sur (+3.2%).
Meanwhile, the papers that fall are those of Globant (-2.6%); Edenor (-2.5%); and Bioceres (-0.8%).
Source: Ambito
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