Argentine stocks rise by up to 9% on Wall Street ahead of the meeting between Milei and Trump
Javier Milei, president of Argentina
porEditorial Team
Argentina
Additionally, the official dollar started the day lower this Monday, trading at $1,370 for sale at Banco Nación
Monday, October 13, began with an atmosphere of marked optimism in Argentine markets, on a day without dollar bond trading due to the holiday in the United States for Columbus Day and ahead of the meeting between President Javier Milei and Donald Trump.
Argentine stocks trading on Wall Street (ADRs) are showing a majority of gains and country risk remains stable at 932 basis points, consolidating the momentum of recent sessions following confirmation of financial support from the U.S. Treasury.
Among the ADRs and shares of Argentine companies trading in dollars on Wall Street, increases of up to 9.3% predominate. The most notable increases are Banco Supervielle (+5.8%), BBVA (+4.9%), Pampa Energía (+4.7%), Edenor (+4.4%), and Loma Negra (+3.3%).
Javier Milei, presidente de Argentina.
Meanwhile, the S&P Merval index of the Buenos Aires Stock Exchange shows a slight decrease of 0.1% in pesos, standing at around 1,920,000 points, while in dollars it records an increase of close to 2%, favored by the drop in stock market exchange rates.
The dollar started the day lower this Monday, October 13, trading at $1,320 for buying and $1,370 for selling at Banco Nación, representing a drop of $80 compared to last week's close. Meanwhile, the wholesale dollar is also showing a significant decline, standing at $1,351.
Javier Milei y Donald Trump
The Minister of Economy, Luis "Toto" Caputo, yesterday defended the agreement reached with the United States, which includes a swap for USD 20,000 million. After his return from Washington, he described the agreement as "the most important economic news in decades" and highlighted the support received from President Donald Trump and Treasury Secretary Scott Bessent.
In a conversation with LN+, the head of the Treasury Palace assured that Javier Milei's government will maintain the current exchange rate band scheme and a floating exchange rate, thus dismissing rumors about a change in the economic program. "We're going to continue with the band scheme and the exchange rate will float," Caputo stated.
