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The S&P Merval rebounds strongly and a share climbs more than 13% on Wall Street

February 29, 2024 – 11:34

Banco Macro shares top the list of increases both in the local market and on Wall Street.


He S&P Merval bounces hard this Thursday February 28 and short a streak of three falls in a row. This occurs within the framework of a day in which the attention will be focused on the prior to the opening of legislative sessions what the president will carry out Javier Milei.

In that context, the stock index advances 3%until 1,028,583.00 units. In this way, she again surpassed the symbolic level of the million units that had been drilled in the previous wheel.

In that framework, in the local squarethe Actions operate with generalized increases. The ones that most they go up are that of Macro Bank (+7.1%), Supervielle Group (+4.5%) and BBVA (+4.1%).

Argentine stocks on Wall Street: how they operated this Wednesday, February 28

For their part, Argentine stocks that operate in Wall Street operate upward. Those who register biggest rises are those of Macro Bank (+13.2%), which is boosted by the presentation of a very positive balance sheet. Among those with the highest profits, they are followed by BBVA (+6.2%) and Galicia Financial Group (+6.4%).

The result per share for 4Q23 was $718.87, 3,894% higher than that achieved in 3Q23 and 789% above 4Q22. In fiscal year 2023, the result per share was $918.5M, 338% higher when compared to that obtained in fiscal year 2022.

S&P Merval rebounds: in what context?

Last Wednesday, the political dispute between Government of Javier Milei and provincial governors by distribution of funds produced a waiting period among investorsthose who are waiting for a clearer outlook to define investment positions.

However, this Thursday, Javier Milei put cold cloths on the conflict with the governor of Chubut, Ignacio “Nacho” Torresand finally He transferred the funds for transportation. It is in response to a last week’s mistake.

The Patagonian province of Chubut had threatened to cut the gas and oil supply in protest at the cut of a monthly co-participating disbursement and went to court, while the influential Buenos Aires province showed his disagreement with the policies implemented by the ruling party and The Rioja said You will not be able to make payments on your bonds.

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