Argentina's Benchmark market index S&P Merval (MERV) closed +3.16% on Wednesday, lifted by heavyweight metal and utility stocks, including Ternium Argentina (Steel manufacturer, +6.55%), Aluar (Aluminum smelter, +5.46%), Central Puerto (Utilities, +5.11%) and Edenor (Utilities, +4.47%). Other foreign-listed companies headquartered in Argentina or with strong operations there rose as well, including SSR Mining (owns largest Silver mine in Argentina, +10.04%), and MercadoLibre (Online Market Place, +1.54%). SSR Mining stock surge is related to the solid Q3 results the company announced.
In the ETF space, Global X MSCI Argentina ETF (ARGT), which invests in among the largest and most liquid securities with exposure to Argentina, gained +2.61% on Wednesday. ARGT rose mainly on SSR Mining and MercardoLibre Wednesday gains (5% and 19% exposure respectively). With similarities in terms of exposure, iShares MSCI Argentina and Global Exposure ETF (AGT) inched +2.53% higher.
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