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The S&P Merval recovers ground, but loses 8% in the last month


February 20, 2024 – 12:07

The stock market recorded its intraday record in pesos at the beginning of the month, although the trend changed with the defeat of the Government in Congress, which rejected its ambitious “omnibus law.”

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The stock index of Argentine Stock Exchanges and Markets (BYMA)he S&P Mervalrises 0.9% due to selective coverage of investment funds, amid economic and political doubts that undermine the management of the libertarian president Javier Milei. The Buenos Aires benchmark thus rose 0.7% the day before and has fallen 5.6% over the past week.

Thus, the biggest increases are for BYMA (+3.1%); BBVA Argentina (+3%); Central Port (+2.7%) and Pampa Energy (+2.2%). Meanwhile, the declines are for: Edenor (-1.1%); Cresud (-0.5%) and Ternium (-0.7%).

Argentine retail prices in February will be “closer to 10% than 20%,” the Economy Minister said on Monday. Luis Caputoduring a television interview, far from the 20.6% that the country registered in January.

The stock market recorded its intraday record in pesos at the beginning of the month, although the trend changed with the defeat of the Government in Congress, which rejected its ambitious “omnibus law” with which it sought to lay the foundations for a broad economic deregulation promised in the campaign.

Argentine shares on Wall Street

The papers of Argentine companies listed on the New York Stock Exchange (NYSE) operate with a majority of losses, led by Ternium (-1.6%); Tenaris (-1.4%); Edenor (-1.4%) and YPF (-1%).





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