The Merval rose 0.7% to 32,133.74 points, in a round where Petrobras dominated the rises with a 5% rise and in which the Dow Jones cut a negative streak of four losses in a row thanks to a rise of 1, 4%.
A striking figure was the volume, $ 664.6 million, an amount that contrasts with the January sessions, in which some $ 1,000 million a day were negotiated. Of those $ 660 million, $ 96 was concentrated in Petrobras operations.
The rise of the oil company was strengthened after the news that the Blackrock fund increased its stake in the company to 5.10% of preferred shares. In addition, it was driven by the international improvement in the price of oil, as the WTI rose 2.2%, the highest gain of a single day in almost three weeks. The rise was based on the report of the International Energy Agency that estimates a greater growth in the production of US crude, while claiming investments to avoid shortages of supplies in 2020.
The other shares that grew were Transener, 3.9%; Holcim, 3.5% and San Miguel, 3%. In the opposite land were Agrometal, which fell 4.47%; Banco Hipotecario, which did it at 2.9% and Cresud, which lost 1.1%.
The climate on Wall Street also had an influence on the local wheel. US stocks rallied as fears of a trade war subsided as investors bet that US President Donald Trump would backtrack on his threat to impose heavy tariffs on steel and aluminum imports.
Investors began to see the threat of Trump as a bargaining tool after the president tweeted that Canada and Mexico could avoid the tariffs that he proposed if they give in to the demands raised in the renegotiation of the North American Free Trade Agreement.
The rise in oil prices and less concern following an election in Italy contributed to the rally in the main stock indexes in the United States: the S & P500 and the Nasdaq gained 1.1% and 1%, respectively.