- Banco Macro gains 5% today, surging on US Treasury help to Argentinian peso
- The most important Argentinian elections scheduled at 26 October
- Banco Macro gains 5% today, surging on US Treasury help to Argentinian peso
- The most important Argentinian elections scheduled at 26 October
Stocks of Argentine banks rose after a media report said the U.S. Treasury sold dollars to maintain the Argentine peso. Banco Macro is up more than 5% today and rebounds strongly after reaching multi-month lows. The recent sell-off was triggerred mostly by the support for Javier Milei opponents in regional elections, which make foreign investors nervous about Argentine economy and future financial conditions. If supported by Donald Trump, Milei will win the elections, we may expect improving sentiments around Argentinian stocks. The election date is set at 26 October. In the past month, all the most important Argentinian banks posted stock gains exceeding the S&P 500 Index with Banco Macro up more than 40%, jumped 41%, Financiero Galicia up almost 25%, and Banco BBVA Argentina gaining 17%.
Source: xStation5
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