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 News

03/10/2017 0:00 - Capital Market
NICOLAS FERRER
Argentine stocks rally throughout Q3

After the primary legislative elections, the value of companies that trade on our domestic stock exchanges skyrocketed. The Merval Stock Index is up 51.5% YTD, with a 17% rise since the end of June, a significant rise even when adjusted for a stronger dollar.

By the eve of the 2017 primary legislative elections, the Merval Stock Index (adjusted in dollar terms) had lost almost all of its year-to-date gains. Since then, the leading market indicator has rallied to break above the USD 1,410 level it had tested between May and July.

 

The following chart summarizes the performance of the different components of the Merval Stock Index.

 

As is customary at the beginning of each quarter, the weight of each of the components of the Merval Stock Index is adjusted according the previous’ quarters trading activity. The following chart shows the new weightings according to the latest projections from Instituto Argentino de Mercado de Capitales (Argentine Institute of Capital Markets). The current iteration of the index is significantly more “democratic” than in previous years. None of the 27 companies that make up the index crack the 10% share level, whereas five years ago, the top three companies represented over half of the index’s portfolio.

 

In local fixed income markets, hard dollar bonds have shown positive performance, particularly in mid to long term maturities, with yields falling about 50 basis points.

 

On the other hand, fixed coupon peso bonds have seen their value drop significantly in light of persistent inflation and a moderate rise in yields for short-term central bank bills.

 
 

 Institutional video


Institutional Video of the Bolsa de Comercio of Rosario (Rosario Board of Trade)

 Rosario Board of Trade

The Rosario Board of Trade is a centennial institution located in Rosario, in the most important agroindustrial zone of Argentina. Throughout its history it has created and boosted transparent, solid and reliable markets: the Grains Physical Market, the Futures Market, the Capital Market, and the Livestock Market.

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Bolsa de Comercio de Rosario Córdoba 1402 - S2000AWV
TE: (54 341) 5258300 / 4102600
TE: (54 341) 5258325 (Complejo de Laboratorios - servicioalcliente@bcr.com.ar)
Rosario - Santa Fe - Argentina

Oficina Buenos Aires Reconquista 458 piso 7° - C1003ABJ - Cdad. de Buenos Aires.
Tel: (54 - 011) 43280390/1484 43939391/9649- Fax: (54 - 011) 43939649
contacto@bcr.com.ar