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Montevideo, November 12th 2018 - 18:43 UTC

Argentine stock market reaches a new record, 13th session running of gains

Saturday, January 6th 2018 - 09:45 UTC
Full article 6 comments

Good and not so good news from Argentina. Merval, the main index of the Buenos Aires Stock Exchange, rose 0.79% to 32,505.59 points on Friday, a new settlement record that marked the 13th consecutive session of gains to the Argentine stock market. Merval had a weekly gain of 7.11%. Read full article

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  • Marti Llazo

    “...YPF's shares fell 1.80%. The Oil Workers Union of the province of Santa Cruz informed that they decided to initiate a measure of force...”

    In English, this would mean that the kirchnerist union is going on strike to create conditions which will cause its shares to fall to new lows, and in doing so expects to create fuel shortages in the region and reduce economic output for other sectors.

    Jan 06th, 2018 - 11:10 am - Link - Report abuse +2
  • Enrique Massot

    Beyond Marti's continued attempts to keep talking about Kirchnerists two years after they ceased to be government, the story above pretty much summarizes the situation in Argentina today:

    1. Markets are happy as the Macri government continues to borrow like there is no tomorrow.
    2. Most other parameters, such as trade balance, domestic consumption and domestic industrial output show negative numbers.

    Who in their right mind would believe a country can thrive through borrowing abroad mostly to pay for the bills and without a coherent economic development project that would, at least attempt to increase the country's repayment capacity?

    As things go, the process pretty much mirrors what the civic-military dictatorship of the 1970s did, and also the process initiated by former president Carlos Menem in the 1990s. Just borrow and dismantle. As the say goes, doing the same thing all over again and expecting a different result is complete idiocy.

    Jan 06th, 2018 - 06:39 pm - Link - Report abuse -2
  • Marti Llazo

    Ridiculous Reekie's blindness continues to amaze. Or is it simply his characteristic mendacity?

    Assessment published 21 Dec 2017:

    ”The Argentine economy surprised to the upside in Q3 growing 0.9 percent sequentially, while rising 4.2 percent versus a year earlier compared to only increasing 2.9 percent during Q2. Personal consumption expenditures (PCE) increased 4.2 percent on a year-earlier basis after growing 4.0 percent in Q2. Meanwhile, real exports of goods and services rose 2.1 percent. Interestingly, real imports of goods and services, which enter the calculation of GDP with a negative sign, surged 18.7 percent during the quarter, underscoring the strength of the Argentine economy during the period. Total demand increased a strong 7.4 percent on a year-earlier basis after an increase of 4.3 percent during Q2. Meanwhile, real gross fixed investment, which has been the lagging sector of Argentina's economic recovery, surged 13.9 percent versus a year earlier after an increase of 6.9 percent in Q2. On the positive side, the Argentine economy did not have much help from the government sector. Real government consumption increased 1.8 percent on a year-earlier basis after rising 3.5 percent in Q2.”

    Jan 06th, 2018 - 09:04 pm - Link - Report abuse +3
  • Don Alberto

    Given the difference between Enrique Massot's blabbering and the real figures, can it then surprise anyone but Enrique, that I call him an idiot child?

    Jan 07th, 2018 - 11:03 pm - Link - Report abuse 0
  • Marti Llazo

    Reekie will be so annoyed to see that the law calling Argentina's condition an “ economic emergency” has not been renewed, effective this month (after 16 years of mostly peroncho screwing with the economy).

    ' Se “termina” la Emergencia Económica tras 16 años de vigencia '

    Jan 08th, 2018 - 01:55 am - Link - Report abuse +2
  • Zaphod Beeblebrox

    Reekie,

    “Most other parameters, such as trade balance, domestic consumption and domestic industrial output show negative numbers.”

    A Marti points out, you are incorrect with this statement and yet you present it as an incontestable fact. You are presenting “alternative facts”.

    “Who in their right mind would believe a country can thrive through borrowing abroad mostly to pay for the bills and without a coherent economic development project that would, at least attempt to increase the country's repayment capacity?”

    Absolutely! So why did you support CFK doing exactly that?

    “As things go, the process pretty much mirrors what the civic-military dictatorship of the 1970s did, and also the process initiated by former president Carlos Menem in the 1990s. Just borrow and dismantle.”

    No, Macri is borrowing and building. It is visible in BA.

    “As the say goes, doing the same thing all over again and expecting a different result is complete idiocy.”

    Indeed. So why support CFK?

    Jan 08th, 2018 - 06:59 pm - Link - Report abuse 0

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