© Archyde.com/Enrique Marcarian
Operators work on the business floor of the Buenos Aires Stock Exchange
BUENOS AIRES, March 30 (Archyde.com) – The Argentine stock market rose in the first trades on Wednesday due to taking positions following recent declines, in a market that remains cautious due to local and external issues.
The S&P Merval stock index gained 0.91%, to 90,784.26 points, at 11:10 a.m. local time (1410 GMT), following falling 3.27% between Monday and Tuesday and improving 3.22% on Friday following agreement with the International Monetary Fund (IMF).
The country’s recent deal with the lender brought some relief to investors as global risk aversion remains high over Russia’s invasion of Ukraine.
“The performance of the (local) economic measures is of utmost importance to achieve the inflationary, foreign exchange and fiscal deficit reduction goals (requested by the IMF),” said Noelia Bisso of Rava Bursátil.
(Reporting by Walter Bianchi; Editing by Jorge Otaola)