The short porteña bag this Tuesday, December 26, a streak of three increases in a row, but the Argentine ADRs operate with the majority of advances on Wall Street. This happens days after package of measures for deregulate the economy presented by the president Javier Milei last Wednesday, and call for extraordinary sessions of Congress for the treatment of economic regulations included within the highly anticipated “omnibus law”.
In that framework, the S&P Merval falls 1.8% to 931,853.42 units, after having closed last Friday above 1,000 points in dollars for the first time in four and a half years.
The stocks in the leading panel record a majority of declines, led by Ternium (-3.6%); Macro Bank (-3.5%); Mirgor (-2.6%); Aluar (-2.3%) and BYMA (-1.7%).
Meanwhile, the only ones that rise are Northern Gas Carrier (+2.8%); Silver Commercial Society (+1.7%); Transener (+1.5%); BBVA (+1.2%) and Southern Gas Carrier (+0.6%).
Last Wednesday, the Argentine assets they celebrated the announced economic deregulation by the brand new Libertarian Government Javier Mileithrough a firm price consolidation given the optimism that the measures become a recovery platform for the country’s broken coffers.
Milei signed a decree which includes more than 300 measurements whose objective is deregulate the economy. The President warned that “more are coming” and this Tuesday extraordinary sessions of Congress were called to discuss the much-announced omnibus lawwhich will include a reform of state functionsthe reversal of Income Tax, elimination of taxes for companies from Japan, Luxembourg, China, United Arab Emirates and Turkey and one authorization for the President to leave the country.
Argentine shares on Wall Street
For their part, the Argentine papers that are listed in Wall Street They operate with a majority of increases, led by Edenor (+3%); Central Port (2.5%); IRSA (+1.8%); Gas Carrier (+1.7) and Cresud (+1.6%).
Meanwhile, the only ones who go down are Supervielle Group (-2.5%); Galicia Financial Group (-0.8%) and Macro Bank (-0.1%).
Source: Ambito
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