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Montevideo, January 23rd 2018 - 07:46 UTC

Argentina's stock market Merval has gained around 75% in the last twelve months

Thursday, December 28th 2017 - 10:18 UTC
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Analysts pointed that up to this point in December the Merval has gained 9.34%. Compared to a year before, the index is up around 75%. Analysts pointed that up to this point in December the Merval has gained 9.34%. Compared to a year before, the index is up around 75%.

Merval, the benchmark stock market index in Argentina, rose 0.25% to 29,260.33 on Wednesday, reflecting investor optimism that the Senate would pass the 2018 budget and a tax reform. It was the seventh consecutive increase of the index.

 Analysts pointed that up to this point in December the Merval has gained 9.34%. Compared to a year before, the index is up around 75%. Such positive performance may lure profit-taking, they added.

YPF stocks rose 1.35% after the Argentine government authorized the state-owned company to export natural gas to Chile.

On the macroeconomic front, the Argentinean activity index, a proxy for the country's GDP, grew 5.2% in October from a year before - a stronger performance than in September, when the index increased 3.8% compared to the same month in 2016.

The locally traded US dollar was 0.55% higher, ending the session at 18.43 pesos, amid volatile trading and boosted by a seasonal higher demand for the greenback, said Gustavo Quintana, from PR Corredores.

Categories: Economy, Argentina.

Top Comments

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  • Enrique Massot

    Growth with persistent inflation, an all-time-high foreign commercial deficit and record external borrowing?

    Would be nice.

    Growth with a presidential decree allowing Argentine agro and mining products exporters to keep their money out of the country?

    Growth with reduction in labour rights and retirees' pay?

    Looks rather like wishful thinking or PR campaign.

    Dec 30th, 2017 - 02:58 am 0
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