The S&P Merval climbed 2.9% and recorded its second rise in a row

The S&P Merval climbed 2.9% and recorded its second rise in a row
September 14, 2023 – 00:00

The Buenos Aires stock market rose yesterday and continued its rebound that began on Tuesday, when it ended a negative streak of nine days in a row. This happened in a scenario of portfolio recompositions within the framework of the publication of August inflation data, which stood at 12.4%, at a time when hedging and dollarization purchases are accentuated weeks before the election.

The S&P Merval advanced 2.9%, to 553,586.940 units, after increasing 4.7% on Tuesday. With these two rebounds, it partially reversed the 24.8% drop accumulated in the previous nine sessions. All in all, the leading index of the Buenos Aires stock market has risen 43% in August.

Local stocks traded mostly higher this Wednesday. In the leading panel, those that registered the greatest gains were Ternium (8.1%), ByMA (8.1%) and Aluar (7.3%).

For its part, on Wall Street, Argentine papers closed mixed, although with a majority of increases. Those that advanced the most were those of YPF (3.1%), Vista (3.1%), TGS (2.8%) and Edenor (2.3%). Those that fell the most were Despegar (3.6%) and Corporación América (1.2%).

Dollar bonds closed mixed. The increases were led by Global 2046 (3.8%), followed by Global 2029 (2.1%). Meanwhile, those that registered the greatest declines were Global 2041 (5.4%), Bonar 2041 (1.5%). In New York, they ended with majorities of increases of between 0.2% and 1.2%. In this framework, the country risk fell 0.28% to 2,164 basis points.

Source: Ambito

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