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21/06/2017 0:00 -
Argentine stocks struggle to reach new highs

As of June 15, the Buenos Aires Stock Exchange Merval Index had retreated 6.9% from its all-time highs reached on June 2. The sudden drop stopped near a significant retracement level from the uptrend that began in mid-November 2016.


If we adjust this chart according to the ARS/USD exchange rate, the weakness becomes more apparent, since the stock index has not been able to hold the USD 1,400 level, which it first broke around mid-May.


The weekly average of daily volume came near ARS 600,000 when the market reached its latest highs, deftly surpassing trading activity seen so far during 2017. Recent selling pressure has not been accompanied by similar volume.

We must also highlight the issuance of a new peso-denominated bond that pays a coupon rate based on the current monetary policy rate (namely, the center of the 7 days repo corridor). Total offers for the bond (which matures in June 2020) equaled ARS 65,264 M, but the Ministry of Finance accepted only ARS 57,255 M at a price of ARS 1,010 per ARS 1,000 of nominal value, which results in a yield spread of – 48 basis points. Additionally, ARS 17,745 M were sold to the Bank of the Argentina Nation, resulting in a total financing of ARS 75,000 through this instrument.

 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
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