The stock index advances after two falls in a rowin which it fell 12.5%.
He S&P Merval rises this Wednesday, November 29, after having marked his biggest drop in the month on the previous wheel. This takes place on the day in which the president-elect, Javier Mileiconfirmed to Luis Caputo as their future economy minister.
In this framework, the stock index up 3.7%until the 801,982.68 points. That way, rebounds after falling 12.5% in the last two wheels.
The leading panel actions operate with vast majority of increases. Those that show the greatest profits are those of Aluar (+6.9%), Northern Gas Carrier (+6.7%) and Cresud (+6.7%). Meanwhile, the only one that falls is Edenorthat down 0.8%.
The Buenos Aires stock market rebounds: In what context?
The elected president Javier Milei returned this Wednesday first thing in the morning after two day trip USAwhere he held several meetings before his inauguration 10th of December. After landing at Aeroparque, he confirmed that Luis Caputo will be his Minister of Economy.
Argentina’s assets fell sharply last tuesday profit taking after recent historical gains generated. The big increases took place in the week after the electoral victory of Javier Mileiwho managed to become the candidate with the most votes with the promise of tough fiscal adjustment and a shrinking of the state.
This happens in an economic context in which Argentina seeks to stop the inflation close to 150% annuallyavoid a constant devaluation of currencyavoid a recession, undo a series of capital controls and rebuild the net reserves.
Argentine shares on Wall Street: how they operated
For their part, the shares of Argentine companies that listed on Wall Street with majority of casualties. Among those that regress the most are those of Edenor (-2.5%), Galicia Financial Group (-2.2%) and IRSA (-1.3%).
At the same time, some Argentine stocks rise in Wall Street. The ones that are making the most progress are those of Supervielle Group (+1.2%), Telecom (+1%) and Free market (+0.4%).
Source: Ambito
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