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Argentine stocks rose sharply on Wall Street and country risk fell

2020-11-24T07:52:23.268Z


IRSA climbed 24.7% and dragged part of the panel. The Dow Jones index advanced on the good news with the Covid vaccines.


11/23/2020 18:48

  • Clarín.com

  • Economy

Updated 11/23/2020 6:48 PM

Argentine stocks had

a good start to the week

on Wall Street and thus maintain the positive streak that they have been dragging throughout the month, after a year to be forgotten.

The note was given by

IRSA Propiedades Comerciales with a jump of 24.7%

.

Accumulates an improvement of 65% in the month compared to a loss of 20.9% in the year.

On the other hand, the other firm of the Elsztain group, simply IRSA,

fell 3.9%. 

Several steps lower is

Corporación América

, which rose

5.6% and 76%

this Monday

so far in November, but fell 49.5% throughout 2020. Tenaris appears in third place, with a rebound of 5.4% today and 61.2% in the last 20 days

The fourth place is YPF with an increase of 5%, and 55% of gains

in the month, although it does not compensate for the losses of 56% in the year.

This is followed by Telecom, Pampa Energía and Transportadora Gas del Sur, with 4.5% and 4.8% and 3.9%, respectively.

Argentine banks had more limited increases, less than 2%.

For its part, Mercado Libre increased 2.5% and Globant advanced 0.4%.

The two technology companies, along with Tenaris, are the only Argentine companies that show increases so far this year.

Marcos Galperín's company increased 153%, Globant, 78.5%, and that of the Techint group increased 15%.

On the New York Stock Exchange, the positive impact of AstraZeneca was felt, announcing that its prototype coronavirus vaccine appears to be 90% effective.

AstraZeneca is the third pharmaceutical company to announce promising results from its coronavirus vaccine.

Unlike other companies, however, this vaccine does not have to be stored at very low temperatures, making it easier to distribute.

The S&P 500 Index rose 0.6%, driven by banks, industrial companies and other businesses affected by the pandemic.

Meanwhile, the Dow Jones industrial average advanced 1.2%.

The 10-year US Treasury yield rose from 0.81% to 0.85%.

Due to the Sovereignty Day holiday, there were no markets in Argentina today.

But the price of bonds in New York was felt on the country risk, the JP Morgan indicator that measures the excess rate that Argentina should pay for borrowing, which

fell 0.4%, to 1,372 basis points.

In Europe, the French CAC 40 index advanced 0.2%, the German DAX rose 0.3% and the British FTSE 100 was practically unchanged.

In Asia, Japan's Nikkei 225 index fell 1.1%, Korea's Kospi rose 0.3%, Hong Kong's Hang Seng rose 0.5% and Shanghai's rose 0.2%.

AQ

Look also

Reserves on the tightrope: the soybean record gives a little air to the Central Bank

Soy rises 5% in Chicago at the opening of the week and reaches US $ 439

Source: clarin

All business articles on 2020-11-24

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