MercoPress. South Atlantic News Agency
Argentina's markets trade higher the 'day after' Sunday's elections
Buenos Aires stocks climbed strongly with Merval benchmark index up 3.3%. Argentine financial and energy shares also rallied in Wall Street. 
Argentine financial and energy shares also rallied in Wall Street. Argentina's financial markets traded higher on Monday after opposition and pro market candidate Mauricio Macri's surprisingly strong showing in presidential elections forced as second vote on 22 November.
Buenos Aires stocks climbed with Merval benchmark index 3.3% up. Banco Macro rose 15.3%, Banco Francés 8%, Grupo Financiero Galicia 9.5% and Pampa Energía 8.8%,
An Argentine equity exchange traded fund (ETF) listed in Berlin also rose to its highest in more than two months.
“The markets in Argentina are going to open stronger because Macri has done much better than expected,” said Jan Dehn at fund manager Ashmore in London.
Financial and energy shares also rallied in Wall Street. Banco Macro surged 24.3%; Grupo Financiero Galicia 20.6%; and Banco Francés 18.2%.
Shares of Pampa Energía climbed 16.9%; Transportadora de Gas del Sur 15.5%, Telecom 14.4% and YPF 13.7%. Argentina's defaulted dollar Discount bonds, which mature in 2033, rose five points to a bid price of 110.3 to yield 7.36%.
They led a broad-based rally across Argentina assets, with other international bonds bid some 3-4 points higher.
Meanwhile in the Buenos Aires money market, trading on Monday eneded with a 25 cents fall of the so called blue dollar to 15.81 Pesos. This means that the gap between the official Peso now stands at 63.3%. In Buenos Aires City banks and foreign exchange offices, the US dollar ended half a cent higher at 9.54 pesos.
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Read all commentsCan you believe that picture 1 was taken in the stock exchange for The Dark Country?
Oct 27th, 2015 - 06:44 pm 0They all speak English there then instead of low level Jibber-jabber?
Perhaps the “investors” are anticipating an upset for Scioli.
Let's hope so.
1 ChrisR
Oct 27th, 2015 - 07:11 pm 0“They all speak English there then instead of low level Jibber-jabber?”
Hey, Chris has just found a new hope for Argentina. Some of them speak...wait...English! (As opposed to Spanish which nobody understands).
How touching...
I wonder how many people speak Spanish in your Commonwealth Country, Enrique?
Oct 28th, 2015 - 04:56 am 0Did you swear Allegiance to HM The Queen in Spanish or English?
Hmmm......
I think we should be told!
Or, at least, you could explain the cultural reference in my penultimate sentence?
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