Argentina Stocks Rise 0.69% as Banks Gain | Argentina Market Report, Oct 15
Argentina’s Merval rose 0.69% to 2,855,486 on Thursday 15 October as Globant jumped 6.4%, while the country-risk index rose to 622 points. The post Argentina Stocks Rise 0.69% as Banks Gain | Argentina Market Report, Oct 15 appeared first on The Rio Times .
Argentina's main stock index, S&P Merval, climbed 0.69% to 2,855,486 points on Thursday, October 15, after earlier losses. The index recovered as Wall Street rebounded, according to Infobae, citing the daily market summary. The country-risk index, which measures the additional yield investors demand on Argentine dollar bonds, climbed to 622 basis points, touching 640 during the session and rising for a fifth consecutive day.
US investors hold Argentina through ADRs and the ARGT fund, which gained 1.05% to US$87.90. The disparity between rising shares and weaker bonds highlights how equity and bond investors interpret the same day differently. The Merval ended the day at 2,855,486.21, a gain of 0.69% from Wednesday, though Trading Economics reported a slightly higher close of 2,859,051, up 0.82%.
Shares of Argentine companies listed in New York, such as Globant (+6.4%), Supervielle (+4.9%), Grupo Financiero Galicia (+2.59%), and Banco Macro (+1.94%), led the gains. YPF, the state-owned oil company, was the standout loser, falling 2.18% to US$51.11. The mixed performance of Argentine sovereign dollar bonds suggests that bond investors responded to rising US yields and local uncertainty, while stock buyers followed Wall Street.
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