Elections in the neighboring country
The weekly decline is the worst in the country since March 2020; Additionally, the week broke a streak of four consecutive weeks of gains
Estadão Conteúdo October 27, 2023 7:32 pm Updated 13 hours ago
The S&P Merval index on the Buenos Aires Stock Exchange fell by 18.14% this week and fell by 2.61% to 17,357.59 points this Friday the 27th.
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The strong negative wave comes after the first round of elections in Argentina last Sunday, in which the current Minister of Economy Sergio Massa and the ultraliberal Javier Milei were defined as names for the second round.
The weekly decline is the worst in the country since March 2020. Additionally, the week broke a streak of four consecutive weeks of gains, leaving some room for correction. So far in October, Merval is still up 16.53% and has seen a gain of 224.40% year to date.
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In the country, the focus is on the secondround election campaign, highlighted in recent days by thirdplace candidate Patricia Bullrich’s announcement on Sunday that she would support Milei in the Nov. 19 contest. There are reports in the local press of fuel shortages at some petrol stations, while the government announced the problem was under control after convening a meeting with industry leaders today.
- With information from Dow Jones Newswires
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