The actions of Argentine companies that are listed in USA they soared on Monday after the victory of the right-wing Javier Milei in the Argentine presidential electionswhich places a ‘outsider’ in office to fix South America’s second-largest economy, hit by triple-digit inflation, a looming recession and rising poverty.
The oil company’s actions YPF They rose 39.7%, while Pampa Energía soared 23.7%, and financial papers such as Grupo Supervielle, Banco Macro, Banco BBVA Argentina and Grupo Financiero Galicia improved between 15.6% and 22.1%.
For their part, the energy company Central Puerto and the real estate company Cresud gained 22.7% each, and the cement company Loma Negra Compañía Industrial rose 14.5%.
He Global ETF X MSCI Argentina of US$ 50.8 million improved 12.2% in early operations and reached its highest level since September.
“The electoral results were a surprise since a much closer result was expected, in which the victory of any of the candidates could not be ruled out,” said Bruno Gennari, Argentina expert at KNG Securities.
Milei defeated the Minister of Economy and official candidate, Sergio Massa.
Argentine shares listed on Buenos Aires They have accumulated an increase of 220% so far this year, supported by cheap valuations in anticipation of the change of political regime and the fear of multi-year inflation.
Argentine markets remained closed on Monday for a national holiday.
Source: Gestion
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