The financial markets have responded favorably to the victory of the utlraliberal Javier Milei in the Argentine presidential elections, and the companies of this country listed in New York skyrocketed up to 24% in the previous opening of Wall Street.
Similarly, Argentine bonds have revalued by more than 6%, after, the day before, the La Libertad Avanza candidate achieved 56% of votes against his rival Sergio Massa, current Minister of Economy of Argentina. .
Although the average is 12% for Argentine companies in New York, the strong advance is leveraged by YPF shares (26.6%), which continue to rise sharply in the face of announcements of an eventual privatization. Meanwhile, the Buenos Aires Stock Exchange will remain closed today for the holiday in Argentina.
Last October, after the first round in which Milei came in second place, the financial markets responded unevenly. In Argentina, the Buenos Aires stock market index lost almost 13%, while the country risk rose and the dollar from the informal market once again topped the 1,000 peso barrier. A negative effect that, at the time, was attributed to the now head of state.
Meanwhile, on Wall Street, the share price of Argentine companies that offer in dollars registered slightly positive figures, led by banks, with 6.8%. Meanwhile, dollar bonds cut losses and rose 1.2% on average.
Source: Larepublica
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