Pages

Tuesday, May 23, 2017

Bourse Bet-Argentina's New Stock Exchange

Bourse bet: Argentina’s new exchange
​Shares in BYMA, a new stock-exchange operator, begin trading in Buenos Aires today. The company is a product of the merger of several exchanges in cities across Argentina. Unlike its forerunners, BYMA—Bolsas y Mercados Argentinos—is “demutualised”: its shares will be publicly traded rather than restricted to a number of brokers. The change is overdue. The demutualisation trend began in Stockholm in 1993; big exchanges including Deutsche Börse and the London Stock Exchange soon followed. Shares in BYMA are likely to prove popular with investors, many of whom hope President Mauricio Macri’s market-friendly reforms will encourage higher trade volumes. Interest in Argentina has jumped since its return to capital markets last April. Next month MSCI is expected to re-admit Argentina into its emerging-market index. But confidence remains fragile. Last week shares fell after new corruption allegations swirled around Michel Temer, Brazil’s president. Argentines hope their northern neighbours don’t spoil the party.
May 23rd 2017
Continue reading today's edition
Download the app here. Five stories, five days a week, straight to your iPhone or Android smartphone.
Available on the app store
Available on google play
Sign up to our newsletter
Receive Espresso via e-mail. Digital subscribers can sign up for daily delivery of Espresso direct to their inbox.

No comments:

Post a Comment