MerVal Essay ⋆ Business Essay Examples ⋆ EssayEmpire

The Mercado de Valores (MerVal) is the most important index on the Buenos Aires Stock Exchange (BASE), the primary stock exchange of Argentina. The BASE was founded in 1854, succeeding the Banco Mercantil that had been established in 1822. The MerVal Index is computed continuously throughout every trading day, and is available online and displayed on screens on the trading floor.

The Burcap and MerVal indices track the same stocks, those stocks deemed most important on the BASE, based on the volume and number of their trades over the last six months (the composition of the indices is redetermined quarterly)—up to 80 percent of the total stocks on the exchange. The Burcap index weights the stocks proportionally to their capitalization, while the MerVal weights according to the number of trades and the stock’s value. In addition to this, the MAR (Merval Argentina) Index specifically tracks the performance of Argentinian corporations on the MerVal Index. Argentina is not a highly industrial nation; much of the MAR is taken up by banks. Notable companies on both MerVal and MAR include Pampa Holdings (a holding company for power companies), Telecom Argentina, Molinos Rio de la Plata, Grupo Clarin (a media company), and sugar and ethanol company Ledesma.

Bibliography:

Paul Blustein, And the Money Kept Rolling In (and Out): Wall Street, The IMF, and the Bankrupting of Argentina (PublicAffairs, 2005);
MerVal, Mercado de Valores de Buenos Aires Merval, merval.sba.com. ar (cited March 2009);
Seeking Alpha, “Argentina’s Merval Index, An Overview,” seekingalpha.com (cited March 2009);
Augusto de la Torre and Sergio L. Schmukler, Emerging Capital Markets and Globalization: The Latin American Experience (Stanford University Press, 2007).

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