|Day's range||29,118.51 - 31,681.74|
|52-week range||20,614.35 - 35,461.52|
Argentine stocks bore the brunt of the pain after a flurry of top government changes over the weekend deepened uncertainty for key sectors. The peso erased early gains. The appointment of Luis Caputo to helm the central bank also led to policies seen by some analysts as negative for banks.
It was a blue Monday for Argentina’s stocks, which suffered their biggest one-day percentage drop since 2014. The Buenos Aries Stock Exchange’s Merval Index shed 2,491 points to end the day down 8.26 per cent, its largest one-day drop since 2014, according to Thomson Reuters data. The fall comes after Argentina’s central bank announced earlier that it was raising bank reserve requirements by 5 percentage points in a move designed to absorb about 100bn pesos from the financial system, according to Reuters.
President Donald Trump just lit a fire under oil prices and big energy stocks. It should also be good news for economies overseas that are heavily tied to the oil price. The Dow Jones Industrial Average has risen 137.74 points, or 0.6%, to 24,497.95, while the S&P 500 has gained 0.7%, to 2691.13 and the Nasdaq Composite is up 0.6% at 7309.57.. Elsewhere, the humorous moment of the day comes courtesy of Argentina, whose Merval stock-market index suddenly boomed 6% on hopes that the international community, in the form of the International Monetary Fund, will bail the country out of its latest financial crisis.
State-owned China Southern Power Grid Co. is considering a bid for a stake in Argentina’s largest power-transmission operator that could fetch about $400 million, according to people with knowledge of ...
Fed Chair Janet Yellen leaves her post after four years, and during that time it was smooth sailing for stocks, with tech shares doubling.
Global markets started the New Year on a strong note, notching up record gains.
Companies operating in Argentina are looking at a new way to deepen their ties to the country and access capital: list locally.