Argentine stocks rise in the market with liquidity cut

Argentine stocks rise in the market with liquidity cut

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BUENOS AIRES, Jan 13 (Reuters) – The Argentine stock market rose on Wednesday at its opening, amid a notorious selectivity of businesses as a result of the caution shown by investors attentive to the government’s negotiations with the International Monetary Fund (IMF) and the renewed global fears of massive COVID-19 infections.

The S&P Merval index of Buenos Aires gained 0.39% to 51,405.25 units at 11:05 local time (1405 GMT), after advancing 0.46% in Wednesday’s session.

The shares of the aluminum producer Aluar “had been moving with their global peers and the international price of the aforementioned ‘commodity’ until the beginning of November (…) The paper did not participate in the global ‘party’, showing a clear relative lag “said consulting firm Delphos Investment.

 

He added that “the justification could be due to the slow recovery in activity after the harsh quarantine (by COVID-19) applied by our country, but also in the lack of interest in domestic assets by international investors. of this, we believe that for the local ‘players’ it constitutes a very attractive role to take exposure to factors more global than local “.

 

Aluar’s papers were trading at a stable price.

(Reporting by Jorge Otaola; Edited by Maximilian Heath)

 

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