S&P Merval gains 2% in the middle of the holiday in the US

S&P Merval gains 2% in the middle of the holiday in the US

This Monday the reduction in the liquidation period for Argentine assets came into effect, from T+2 (48 hours) to T+1 (24 hours).

Argentine News

Argentine assets start the week on the rise, with the US market closed for holidays and the entry into force in the local market of the settlement within 24 hours.

Measured in weights, the S&P Merval gains 2.3% this Monday to reach 1,543,926 units. In addition, valued in dollars the increase is 1.4% due to the decrease that cash with liquid is showing.

The stocks that rise the most are those of Silver Commercial Society (+6%), YPF (+4%) and BBVA Bank (+3.6%).

From this wheel The local stock market will begin to operate within the T+1 period (24 hours)from the previous modality of T+2 (48 hours), to align with the United States markets, which will implement the measure starting Tuesday given the “Memorial Day” holiday.

The new settlement period “should not influence the market much because it is just a market convention,” said Roberto Geretto, an economist at Fundcorp.

Last week the S&P Merval had its steepest weekly decline since the beginning of February, while country risk suffered its worst performance since Javier Milei assumed the presidency. Stocks and bonds were affected by doubts about the approval of the Bases Law and the increase in the exchange gap.

Milei said on Thursday in a television interview that the delay in Congress plays against investors’ expectations and that this produced a jump in the country risk and in the blue dollar. Likewise, on Saturday she assured in another interview that she will apply a “significant” tax reduction after Congress approves the bill to reduce state intervention in the economy.

Source: Ambito

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