Argentine shares without a roof: they soar up to 17% on Wall Street

The stock market index of the Buenos Aires market, the S&P Merval continues to show positive signs in its performance this Friday, maintaining an upward trend despite the expected position rearrangements after its impressive increase of more than 50% during the last five sessions.

In Wall Streetwhich today will only operate half a wheel, the papers of national companies seem to find no ceiling and soar up to 17%.

These advances are influenced by the optimism generated after the victory of the candidate Javier Milei in the presidential elections last Sunday.

The leading S&P Merval index of Argentine Stock Exchanges and Markets (BYMA) shows an increase of 3.9%. “The 800,000 point level could serve as key support for the index,” suggests Alexander Londoño, market analyst at ActivTraders, assessing the current situation.

The main increases for the local stock market are for Macro Bank (14.7%), Grupo Financiero Galicia (11.6%), Banco Supervielle (11.13%), Banco de Valores (9.7%).

Meanwhile, the losses are for Telecom (-2.7%), Ternium (-1.7%) and for the Loma Negra cement company (-1%).

ADRs of Argentine companies

In the New York market, which today only half a wheel will operate, the shares of national companies seem to have no ceiling and soar up to 17%.

He leads the climbs YPF (17.5%), followed by Supervielle Bank (16.9%), BBVA with (16.6%) and Edenr with (14.7%). In the short session on Wall Street, there are no Argentine companies that are trading at losses in this session.

This trend occurs after the president-elect, Javier Milei, who defends the dollarization of the economy, will ratify his plans, which are generating expectations and positively impacting the mood of investors.