Settlement effect: stocks and bonds gained up to 18% during the week

The S&P Merval rose 6.2% due to the optimism generated by the announcement of the debt agreement that Argentina reached with its foreign creditors. On Wall Street, Argentine ADRs did not show homogeneity in their variations throughout the week. The top five bullish stocks were integrated by Edenor’s papers (+16.3%); Ternium (+14.4%); Loma Negra (12.4%); Despegar (+11.9%); and Grupo Financiero Galicia (+7.1%). Argentina’s country risk, as measured by JP Morgan bank, fell 7.6% to 2,091bps during the week.

Source: Ámbito