Thanks to Moderna announcement, global markets rise, Argentinian stocks rise 8% on Wall Street

As with the Pfizer vaccine and Russia’s Sputnik V, news of the Moderna vaccine’s 95% effectiveness boosted global stock markets, including Argentine stocks and bonds. The positive news about vaccines gives investors more certainty that the pandemic will end in the near future.

While the Dow Jones, the index of the United States, is up 1%, the Merval is up 2.4%, with increases of up to 6%, and Argentinian stocks on Wall Street have increases of up to at 8%, as is the case with Despegar. Behind the company – one of those eagerly awaiting the end of the coronavirus – are IRSA Propiedades Comerciales, Corporación América, Tenaris, with increases of between 5% and 8%.

Bonds also improved their performance and reduced country risk by 0.2% to 1330 basis points.

“The change we are seeing is in line with the way Argentina tends to react to foreign market recoveries in general,” said Alejo Costa, of BGT Pactual.

Internationally, WTI oil rose 3% to US $ 41.34 per barrel, while gold edged down. In Europe, all stock markets are trading higher, with increases from 0.80% for Frankfurt to 2.7% for the Spanish ibex.

On Wall Street, Moderna stock climbed nearly 11% at the start of a session where all sectors traded green except healthcare and real estate companies which posted losses moderate. In contrast, among the big beneficiaries were companies that have suffered badly from the pandemic, such as airline United, which gained more than 4%, or cruise line Carnival, which increased by more than 8%.

Of the 30 Dow Jones stocks, the biggest gains were for Boeing (5.54%), Walgreens (3.75%), Walt Disney (3.37%) and Chevron (3.08%), while the losses were They led Procter & Gamble (-0.80%), Amgen (-0.74%) and Merck & Co (-0.72%).

How much is the blue dollar

The blue dollar, meanwhile, falls to $ 168, after hitting $ 173, from $ 172 which closed on Friday and after hitting a low of $ 149 last Tuesday. Since that day, the bearish streak that started three weeks ago and took it to $ 195 on October 23 has been cut.

Alternative dollars or stock markets continue to rise, which the government is trying to divert by selling bonds. Cash, which earns dollars abroad, rose 1.3%, to $ 148.49, while the MEP dollar rose 1.5%, to $ 143.33.

The spread between the blue dollar and the wholesale dollar, which rises 19 cents, to $ 79.95, is 110% (it had hit 150% in October), while against cash with cash it falls to 85%.

BORN