Javier Miley, the presidential candidate of the Liberty Advances coalition, recently arrived in Buenos Aires to vote in the second round of the presidential elections. His victory sparked a huge rally in shares of the state oil company IPF, which rose 40% the following Monday. During his campaign, Miley promised to reform Argentina’s economy and expressed his desire to privatize the IPF.

The winner of Argentina’s presidential election on Sunday, Miley defeated Economy Minister Sergio Massa. On the Monday following his victory, IPF saw its New York-listed shares rise more than 40%. Shares traded at $14.90, up 38.82% on the day. Miley, the right-wing libertarian candidate, secured victory by a larger margin than expected. He promised to revitalize Argentina’s ailing economy, promoting the use of the US dollar in the country and mentioned the potential sale of IPF and other state-controlled companies to improve the public accounts. In a radio interview, the president-elect said his administration would “create value” for companies that would be sold to benefit Argentines.

More stocks linked to Argentina, such as Grupo Financiero Galicia, Banco Macro and the Global X MSCI Argentina ETF, all posted gains. Miley expressed his commitment to ending

By Editor

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