In the meantime, GDP-linked coupons climbed up to 11%.

Wednesday, July 30, 2014

BA stock market jumps as debt talks continue

The Buenos Aires City stock market jumped today, reflecting investor’s optimism as last-minute negotiations between Argentina and its holdout creditors continue in New York. The Merval index climbed by 6% to 8,864.47 points.

Optimism among investors led to widespread market profits, particularly within banks and oil companies shares. All eyes are on the government’s face-to-face meeting with holdout hedge funds and US court-appointed mediator Daniel Pollack that continues today after dragging on all night yesterday.

Among public titles, the Bonar 2017 is up by 4.3%; the pesos-denominated Discount spiked by 9%. The dollar-denominated Par was up by 4.1%, while the Boden 2015 jumped by 0.4%

In the meantime, GDP-linked coupons climbed up to 11%.