The S&P Merval index rose 2.60% and stood at 153,789 units after the half-wheel of the Buenos Aires market, while the shares of Argentine companies on Wall Street rose up to 8%.
In the main local panel, the newspapers of YPF and Grupo Financiero Galicia recorded increases of 4.96% and 2.56% respectively.
Meanwhile, the ADRs of Argentine companies on the New York Stock Exchange rise sharply thanks to the papers of YPF, BBVA and Grupo Financiero Galicia achieved the strongest increases, 8.4%, 7.3% and 4.9% respectively.
For the market, these are renewed purchases by institutional investors seeking to protect themselves from high inflation and the devaluation of the peso.
In the fixed income segment, dollar bonds trading with highs and lows, while the pesos securities operated with drops of up to 0.8%.
Country risk, for its part, discounted 1.1%, settling at around 2,596 basis points.
S&P Merval Buenos Aires Index Rises 2.60%, to 157,983.65 Points, an Intraday Recordfrom the previous high of 150,971.41 points on 19 September.
How did the month end?
Contrary to the main international indices, the newspapers of the Argentine companies closed the month with a profit. Measured in dollars, the S&P Merval index accumulated in October a exceed 8%. And, so far this year, already rises by 16.4% in hard currencywhile the main US indices fell between 19% and 30% respectively.
“Although prices in New York improved significantly for Argentine assets during the afternoon, they had a good overall performance that could also be exploited in the local market,” said Fernando Staropoli, of Rava.
YN
Source: Clarin
