Argentina was a pariah of global investors up until last year due to many reasons including the nationalization of the country’s oil company YPF in May.However investors have become bullish on Argentina for the past year according to an article in FT beyondbrics. The benchmark Merval index has almost doubled this year.
The following table shows the YTD performance of Argentina ADRs:
| S.No. | Company | Ticker | Closing Share Price on Oct 24, 2013 | YTD Change | Industry |
|---|---|---|---|---|---|
| 1 | Edenor | EDN | $6.10 | 212.82% | Electricity |
| 2 | IRSA Inversiones y Representaciones | IRS | $12.17 | 74.61% | Real Estate Inv&Serv |
| 3 | Pampa Energia | PAM | $5.96 | 73.26% | Electricity |
| 4 | Grupo Financiero Galicia | GGAL | $10.79 | 62.99% | Banks |
| 5 | Telecom Argentina | TEO | $18.37 | 61.42% | Mobile Telecom. |
| 6 | BBVA Banco Frances | BFR | $8.04 | 59.84% | Banks |
| 7 | Banco Macro | BMA | $27.65 | 52.43% | Banks |
| 8 | YPF | YPF | $22.00 | 51.20% | Oil & Gas Producers |
| 9 | Nortel Invesora - Series B | NTL | $20.56 | 49.96% | Mobile Telecom. |
| 10 | Alto Palermo | APSA | $23.40 | 49.62% | Real Estate Inv&Serv |
| 11 | Transportadora de Gas del Sur | TGS | $2.53 | 43.75% | Oil & Gas Producers |
| 12 | Cresud | CRESY | $11.55 | 38.82% | Food Producers |
| 13 | Petrobras Argentina S.A. | PZE | $6.35 | 33.68% | Oil & Gas Producers |
| 14 | Tenaris | TS | $48.05 | 14.62% | Indust.Metals&Mining |
| 15 | Ternium | TX | $25.65 | 8.92% | Indust.Metals&Mining |
Source: BNY Mellon
Related ETF:
Global X FTSE Argentina 20 ETF (ARGT)
Disclosure: Long BMA
