BUENOS AIRES, Apr 14 (Reuters) – Argentina’s stock market rose slightly on Wednesday, supported by the positive trend in foreign markets after data showing that inflation in the United States was not rising out of control as the economy recovers.
Operators pointed out that the operation is limited given the low participation of investors in the face of local economic doubts, at a time when the Minister of Economy, Martín Guzmán, is in Europe in search of support in the country’s negotiations with the IMF and with the Paris Club to restructure a multi-million dollar debt.
The S&P Merval index of Buenos Aires improved 0.55%, to 47,943.24 units, at 11:05 a.m. local time (1405 GMT), after falling 0.89% in the previous session.
“The leading panel operates without clear direction, the progress of the closing of the week was supported by the ‘CCL’ (Cash with Settlement), but with an unconvincing feeling, it is costing it to recover 50,000 points,” said the settlement and clearing agent. Neix.
He added that “the ‘CEDEARs’ concentrate more than 70% of the total volume traded in equities.”
The third largest economy in Latin America is immersed in a deep recession, with high inflation and new restrictions on mobility due to a strong second wave of coronavirus.
(Report by Walter Bianchi ,; Edited by Jorge Otaola)