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Wednesday, November 30, 2022

The S&P Merval scored its fifth consecutive rise

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Within this framework, the shares that led the increases in the leading panel were those of Cresud (3.7%), Sociedad Comercial del Plata (3.3%) and Transener (3%). The main drop was for Grupo Financiero Valores with 1%.

“Argentina’s (economic) conditions continue to be difficult, which is why investors seek refuge and try to dollarize positions,” said a financial operator.

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The Merval improved “in a context of portfolio dollarization given the growing doubts about the strength of the domestic economy,” Research for Traders added.

In fixed income, sovereign bonds in dollars traded with the majority of rises of up to 3.2% thanks to the Global 2030 and 2035. Bonar 2038 also appeared behind, with a rise of 2.8%. Meanwhile, the country risk, which is measured by the JP Morgan bank, fell 0.1% to 2,406 units.

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“Bonds in the local over-the-counter segment did not show significant business” due to the US holiday, traders commented.

Source: Ambito

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