Merval, the main index of the Buenos Aires Stock Exchange, ended the first session of a shorter week with a 0.60% rise to 31,652.68 points Monday. Fears of a trade war between the United States and China receded and boosted both foreign and local markets, but with different intensity.
“Although the American indices recorded average increases of 3%, here the improvement of the Merval was timid,” said Eduardo Fernandez, an analyst at Rava Bursatil.
YPF (+4.21%) and Tenaris (+3.76%) shares had an outstanding performance, while Aluar (-3.54%), Boldt (-3.35%), and Andes Energ?a (-3.31%) closed down.
The locally traded U.S. dollar closed stable, remaining at 20.19 pesos, after the Central Bank of Argentina (BCRA) once again set limits on the foreign exchange market.
According to Gustavo Quintana, an analyst at PR Corredores: “BCRA placed sale offers at 20.19, pesos which became the upper limit set for the dollar’s price on the date.”