The local stock market is buoyed by speculation that President Milei’s government will gain congressional support for its plan to liberate and adjust the country’s economy.
The leading index of Argentine Stock Exchanges and Markets (BYMA), the S&P Mervalerases the initial rise that it registered in the first operations and turns around. The stock market was encouraged by speculation that the President’s Government Javier Milei will achieve the support of Congress for his plan to liberate and adjust the country’s economy. Thus, the Buenos Aires index falls more than 2%, dragged down by a decompression in the CCL dollar, which falls 2.5% to $1,237.96.
Thus, the few increases of this session are for: Aluar (+2.1%); Silver Commercial Society (+2.1%); and Transportadora de Gas del Norte (+1.6%). For its part, the strongest losses are led by Superville (-2.8%); Mirgor (-2.4%) and Grupo Financiero Galicia (-2%).
Regarding the general panel, the Boldt stock (leading company in the development of technologies and systems applied to facilities management), which They registered a jump of 28.9%, and accumulated an increase of 305.4% in the month. This Wednesday the paper rises 7.7%.
Parliament began this morning to discuss the so-called ‘Omnibus Law’ after long negotiations with allied and opposition legislators to support the initiative, after the fiscal chapter will be eliminated.
“The market is expectant of the measures that the Government may take, especially in relation to fiscal measures that may promote order in the macroeconomy,” said Leonel Buccolo of Rava Bursátil.
In this way, investors analyze the political viability of fiscal adjustment, of 6 points of the GDP proposed by the ruling partywhich would be necessary to end the financial deficit.
Argentine shares on Wall Street
Meanwhile, Argentine stocks listed on the New York Stock Exchange (NYSE) they return to mixed prices, in tune with that square that anxiously awaits the decision of the Federal Reserve on interest rates and in the middle of a week marked by the presentation of corporate balance sheets.
Strictly speaking, the biggest losses of the session on Wall Street are for: Transportadora de Gas del Sur (-1%); Tenaris (-0.4%) and Pampa Energía (-0.3%).
For their part, those that rise the most are: Loma Negra (+1.1%); Cresud (+1%) and Central Puerto (+0.9%)-
“Given the news about the fiscal package, and waiting for details about the new strategy to balance public accounts, operators are leaning toward a more prudent attitude,” said the economist. Gustavo Ber.
Source: Ambito
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