BUZZ-US-listed Argentine shares rally after US pledges support

Reuters09-24
BUZZ-US-listed Argentine shares rally after US pledges support

** U.S.-listed shares of Argentine companies surge after U.S. Treasury Secretary Scott Bessent details financial support for Argentina

** Bessent confirms negotiations for a $20 bln currency swap line with Argentina's central bank and plans to purchase dollar-denominated bonds in secondary markets

** The U.S. would do whatever it takes to support Argentina's reforms, he had said on Monday

** Shares of YPF YPF.N, Argentina's state-controlled oil company, climb 4.2%

** Financial groups Grupo Financiero Galicia GGAL.O, Banco Macro BMA.N and Banco BBVA Argentina BBAR.N advance 7%-11%

** Energy company Pampa Energia PAM.N up about 4%

** The Global X MSCI Argentina ETF ARGT.P, which tracks Argentine stocks, adds 3.2% to hit its highest since September 5

(Reporting by Sruthi Shankar)

((sruthi.shankar@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment