The S&P Merval rises 0.9% and reaches 939,100.09 points, after advancing 14.3% in December and leading 2023 investments.
The Buenos Aires stock market rebounds slightly this Wednesday, January 3. Meanwhile, the Argentine shares on Wall Street and in the local market operate with most rises after a day in red. This happens in a market that shows price ups and downs following strong recent improvements, amidst coverage given high inflation and the strong devaluation that surrounds the Argentine economy.
In that framework, the S&P Merval rises 0.9% and reaches the 939,100.09 pointsafter advancing a 14.3% in December and lead the investments of the 2023 with increase of 360.1% in pesos and almost 68% in dollars.
The leading panel actions they operated with majority of increases. The ones that are making the most progress are those of Edenor (+2.9%), Macro Bank (+2%) and Pampa Energy (+2%). Meanwhile, the only one that gives in is Telecom (-0.1%).
Argentine stocks on Wall Street: how they operate this Wednesday
For their part, the Argentine shares on Wall Street operate with most progress. Those who earn the most are those of Edenor (+2.5%), YPF (+1.9%) and Macro Bank (+1.8%). Meanwhile, those that give the most are those of Take off (-1.8%), Free market (-1.7%) and Bioceres (-1.4%).
S&P Merval and Argentine stocks rebound: in what context?
The increase in retail prices was around 200% last year and it is expected that there will be a strong drag by 2024. Meanwhile, Political attention is focused on Congress, where President Javier Milei sent a package of draft laws to be discussed in extraordinary sessionsamong which the declaration of the economic emergency until December 31, 2025 stands out.
“Now it could be the turn of a stage of greater calm and selectivity while analyzing parliamentary progress against the Omnibus Law and the DNUas well as emergency economic measures, in order to open space for medium term to migrate to a comprehensive stabilization plan and deregulation that continues to fuel the best expectations of the agentswhich is key to going through this stage of adjustments,” expressed Gustavo Ber.
Source: Ambito
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