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Argentina stock market rises with selectivity supported by external improvement

BUENOS AIRES, Mar 31 (Reuters) – Argentina’s stock rose slightly in early trading on Wednesday on lower global risk aversion as it awaited details on US President Joe Biden’s massive infrastructure plan, though investors remained cautious for doubts about the economic future of the third largest economy in Latin America.

The country’s slow negotiations with the International Monetary Fund (IMF) to restructure a debt of 45,000 million dollars, in the midst of an economy hit by the coronavirus pandemic, maintains a cloak of caution over the local market, operators agree.

The leading S&P Merval index of Buenos Aires was up 0.27% to 48,222.46 units at 11:05 a.m. local time (1405 GMT), led by the trend of stocks in the energy and financial segments.

“The operation of Argentine assets is volatile and uncertain,” said settlement and clearing agent Neix, affirming that “without precision or signals regarding an agreement with the IMF, expectations for the short term are limited.”

The Merval, which rose 1.8% in the previous session, accumulates a loss of 0.43% in March.

(Report by Walter Bianchi ,; Edited by Jorge Otaola)

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