Argentine stock market exceeds daily maximum with leadership of financial papers

BUENOS AIRES, Jan 12 (Reuters) – The Argentine stock market ratified on Thursday its steady upward trend to another record in pesos, a level that it has exceeded daily in recent sessions, hand in hand with a notorious retraction of country risk and the support of liquidity after a recent credit enhancement.

The leading S&P Merval Buenos Aires index rose 1.52%, to 228,040.28 points, at 11:05 local time (1405 GMT), after marking its new intraday all-time high of 228,321.99 units a moment after business began.

Financial papers continue as stars in the bullish rally, at the rate of Argentine ADRs on Wall Street, highlighting the daily increase of 1.65% in Grupo Financiero Galicia.

In this way, the stock market has seen an increase of around 170% in pesos during the last 12 months, which generates a return converted into dollars close to 40%, a gain that captures the interest of institutional investors from different latitudes.

The market awaits the Argentine inflation data for December and 2022, which could be around the area of ​​5.2% and 95.5%, respectively, one of the highest levels in the world. (Reporting by Jorge Otaola; Editing by Hernán Nessi)

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