Argentina Stocks Continue Rally With 6% Increase On First Trading Day Of 2025
(MENAFN- The Rio Times) Argentina's stock market surged on the first trading day of 2025, continuing its remarkable performance from the previous year.
According to recent reports, the Buenos Aires Stock Exchange's Merval index rose approximately 6% on January 2, 2025, building on a staggering 172% increase in 2024.
This impressive growth positioned Argentina as the top performer among twenty global stock exchanges. Investors expressed strong enthusiasm for the administration of Javier Milei, which likely fueled this surge.
The Merval Index demonstrated significant gains in both U.S. dollars and Argentine pesos. In dollar terms, it recorded a rise of 113.8%, while in pesos, the increase reached an astonishing 172.5%.
The dollar's strength against the peso contributed to these figures, as it appreciated by 27% during the same period. The stocks that performed best included those from banks and energy companies.
Notable mentions are BBVA, which saw an increase of 9.1%, and Pampa Energía, which advanced by 6.6%. Additionally, Argentine companies listed on Wall Street also experienced substantial gains.
Banco Macro's American Depository Receipts (ADRs) rose by 10%, while Grupo Financiero Galicia's ADRs climbed by 8%. This remarkable performance highlights the resilience and potential of Argentina's financial markets.
Investors continue to show confidence in the country's economic direction under Milei's leadership. The significant returns from the stock market reflect a broader trend of optimism among investors who prioritize freedom and self-responsibility in their financial decisions.
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