While shares rise in the local market, those of Argentine companies listed abroad fall. The difference between both dynamics responds to the improvement seen in the price of the Cash With Settlement dollar.
The porteño bag maintains upward trend this Wednesday January 17. Meanwhile, Argentine actions in Wall Street fall up to 6%. This occurs on a day in which the president Javier Milei stay in it Davos Economic Forum and continues the discussion of the omnibus lawin the Chamber of Deputies.
In that context, the S&P Merval advances 1% until 1,067,945,020 units in pesos. Leading Panel Stock Trades With generalized increases. The main increases of the day are those of Mirgor (+3.6%), Telecom (+2.6%) and Ternium (+2.4%).
S&P Merval rises: in what context?
This Wednesday, the agenda is marked by the trip of president Javier Milei to the Davos Forumand the discussion of the omnibus law in it National Congress which includes deep economic reforms.
Last week, The Government reached an agreement with the International Monetary Fund (IMF) and the historical inflation data of the 25.5% from Decemberwhich catapulted retail prices to 211.4% in 2023.
In line with the agreement which the Government arrived with the technical mission of IMFMilei has a bilateral scheduled with the head of the multilateral credit organization, Kristalina Georgievaduring your stay in Swiss.
Despite the devaluation trend, the BCRA was able to add net reserves for the 23rd consecutive business day, so the US$217 million of the date they make the entity accumulate US$4,596 million since December 13.
Argentine shares on Wall Street: how they are trading this Wednesday, January 17
In NYArgentine stocks operate with majority of casualties. The papers that the more they fall are those of Edenor (-5%), Cresud (-1.9%) and IRSA (-1.8%). While, the only ones that go up are those of Pampa Energy (+0.3%) and Central Port (+0.1%).
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
