The Argentine stock market moves up this Tuesday speculative purchases in the face of the uncertain presidential runoff next Sunday (when Sergio Massa and Javier Milei will measure their strength) and after knowing the inflation data for October that was known this Monday and which stood at 8.3%. Also, the US price index remained unchanged and stood at 3.2% last month.
“The investors They already seem to have adjusted their positions facing the runoff, but it would be expected that volatility will increase as the elections approach, favoring those assets of a defensive nature to cover yourself from negative surprises“said the consulting firm Delphos Investment. Thus, they consider it feasible that some papers will pull during the week as coverage and that the Merval reconnects to regional indices.
In that scenario, the index S&P Merval rises 1.26%, to 645,003.9 unitsand reverses the fall of the previous day, when it lost 3.53% and broke the bullish mini-streak of the previous week, when it marked an increase of 3.61%.
The shares of the leading panel climb up to 4.64%, led by Cresud, Supervielle (+2.64%) and Mirgor (+2.13%). Those that fell the most are those of the Buenos Aires Stock Market (-1.55%), Telecom (-1.35%) and Comercial del Plata (-0.39%).
Argentine shares on Wall Street
The papers of the Argentine companies listed on the New York Stock Exchange are all on the riseon a positive day for Wall Street after the result of US inflation, which remained stable in October at 3.2%. In this context, the Argentine stock that rises the most in that market is that of Mercado Libre, which climbs 6.10%; Grupo Financiero Galicia rises 2.74% and Transportadora de Gas del Sur (+3.27%). Meanwhile, those that fall are IRSA (-0.63%) and Bioceres (-0.38%).
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