After the electoral result of the PASO in Argentina, the markets reacted in their own way. Today stocks and bonds rose and country risk fell 6%. As happens every time there are elections, yesterday’s unexpected result caused movements in the markets. The opposition’s bump at the polls excited the stock market, which sees a future with a change of government.
On Wall Street, Argentine stocks rose significantly. Grupo Financiero Galicia gained up to 15%, the ADRs were mostly in dollars. The same happened with the dollar bonds, which gained up to 2.75% before the official start of operations. On the other hand, the airs of a replacement had a positive impact on the country risk, which fell 6%.
The blue dollar falls $ 5. It is a different scenario after having overheated in the days before the elections. Today the parallel exchange rate yielded to pre-electoral pressures and fell back. At the beginning of the week, the currency that is traded in the informal market sells for $ 183.
By noon, financial dollars were trending down. The MEP dollar (or “Stock”) falls 3.3% and is sold at $ 178.77.