Equities are up on the local stock market and in New York, and dollar bonds, which started the day in the red, are reversing the trend and advancing.
The Argentine stocks mark important increases this Monday, both in Wall Street as in the local stock marketwhile the sovereign bonds reverse trend after a complicated start and the country risk is located at 1,488 units. This is happening while the results of the money laundering are being seen and while the exchange rate gap continues to fall.
In Wall StreetArgentine stocks climb up to 6.4%: gains are led by Take offfollowed by Edenor (+6.1%) and Supervielle Group (+5.5%). Meanwhile, in Buenos Aires the S&P Merval It grew by 1.2% measured in pesos to 1,742,851.87 units and, measured in dollars, it advanced by 2.8% to US$1,407.47.
Thus, the companies that have risen the most within the leading panel are Edenor (+4.1%), Ternium (+3.7%), and Aluar (+3.5%).
This happens on a day when The New York Stock Exchange is trading higher and recovers from the Friday’s blow from the jobs report and downplaying fears of recession in the United States.
“It’s a bit more volatile than expected. The American market is on the rise and it is a very busy day. We have to wait to see how the market reacts at the close, but the day is a little calmer than Friday, which marked a brutal fall,” he diagnoses in dialogue with Scope Eric Paniagua, from Epyca Consultants.
Bonds and country risk
For its part, Sovereign dollar bonds register majority of increasesalthough the day started without a clear trend. Those who advance the most are the Bonar 2041 (+1.7%), the Bonar 2030 (+1.3%), and the Global 2030 (+1.2%).
In this context, The country risk, measured by JP Morgan, rises five units to 1,488 points basics.
Source: Ambito
