Merval Gains 1.45% as Inflation Hits 1.9% | Argentina Market Report, Oct 13
Argentina’s S&P Merval rose 1.45% to 2,869,151 on Tuesday 13 October as INDEC reported 1.9% September inflation and country risk edged up to 597. The post Merval Gains 1.45% as Inflation Hits 1.9% | Argentina Market Report, Oct 13 appeared first on The Rio Times .
Shares of Argentine companies rose on Tuesday, October 13, marking the first trading day after the Monday holiday. The benchmark S&P Merval index increased by 1.45% to reach 2,869,151 points, according to Rava Bursátil data. The country's statistics office, INDEC, revealed that consumer prices climbed 1.9% in September, up two-tenths from August and matching expectations from the central bank's survey.
Bonds declined slightly, and the country risk index edged up to 597 basis points. Meanwhile, the Argentine peso strengthened against the US dollar.
The mixed performance of shares and bonds suggests caution among US investors regarding inflation, rather than a clear risk-on market sentiment. On the day, the Merval closed at 2,869,151.19 points, a 1.45% gain from the previous Friday's closing price of 2,828,030. Shares of local Argentine companies that trade on US markets, or Argentine Dollar Restricted (ADR) shares, generally held up well.
Among the top gainers, Cresud led with a 3.19% increase, Central Puerto surged by 2.65%, and BBVA Argentina's ADR rose 1.11%. In contrast, telecom shares underperformed, with TELECOM ARG falling by 1.07% and GGAL, COME, and BYMA experiencing declines of 2.40%, 2.35%, and 2.26%, respectively.
Market data showed that the peso strengthened to 1,493 against the US dollar, while Brent crude oil dropped by 0.03% to $88.88 per barrel. Soybean prices rose by 3.20% to $1,184 per tonne. Sector-wise, utilities led the advance with a 1.27% gain, followed by PAMPA and CEPU Energy, each up by 0.05%. Meanwhile, materials, telecom, and technology sectors experienced declines.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
