After Milei’s victory, Argentine companies listed on Wall Street skyrocket


Argentine companies listed on the New York Stock Exchange saw their values ​​soar in the early stages of the day on Wall Street this morning, with increases in many cases exceeding double digits.

His reaction was highly anticipated as today is a public holiday in Argentina (Sovereignty Day) and the Buenos Aires Stock Exchange is inactive. Everything indicates that Javier Milei’s victory is good news for investors.

It stands out for its unprecedented rise and its YPF volume, which rises by 36% 40 minutes after the open; Transportadora Gas del Sur also recorded a strong increase of 22% and Pampa Energía, more moderate, of 7%.

In the banking and financial sector, Grupo Financiero Galicia recorded an increase of 23%; Banco Macro rises 19%; Cresud, 21%, BBVA Argentina, 16% and Grupo Supervielle, 12%.

Cement company Loma Negra rises 12%; the steel company Tenari, 1.8%, and Telecom Argentina, 4%.

Without operations in banks and exchange offices in Argentina until Tuesday, attention is also turning to the behavior of the so-called “bitcoin dollar”, one of the many alternative prices in the South American country, and since Milei’s triumph on the night of This Sunday he started strong to rise and exceeded 1,000 pesos per unit.

Market analysts expect the price of the dollar to rise given Milei’s proposal to dollarize the economy at an uncertain exchange rate.

In addition, until last week the market was betting on a victory for the current economy minister, the Peronist Sergio Massa, whose proposals did not immediately include significant changes in exchange rate policy.

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