Local assets traded mixed on Monday, June 15, driven by Argentina's sovereign rating upgrade and the United States-Iran agreement.
Standard & Poor’s raised Argentina’s credit rating from CCC+ to B-. Against that backdrop, country risk fell 2.7 percent to close at 425 basis points, its lowest level since April 30, 2018.
Argentine ADRs rose as much as 6.2 percent, led by Corporación América and Edenor. The S&P Merval ended at 3,354,282.21 points while the hard-currency index gained 0.1 percent to 2,248.66 units.
Internationally, the deal to reopen the Strait of Hormuz lifted Wall Street. The NASDAQ rose 2.4 percent, the S&P 500 gained 1.7 percent and the Dow Jones advanced 1.3 percent. Brent crude fell 4.7 percent to 83.20 dollars per barrel.
