The question that arises regarding the index is whether the correction came after the impressive rally that extended throughout the year and, starting in August, with greater intensity.
He S&P Merval He started the day on the downside, but then tried to rebound. Given this, the market wonders if the correction will actually continue or the upward trend will return. Meanwhile, the fixed income It also operates with declines, with bonds falling up to 1.3% in the local market.
Thus the local selective rebounds 0.8% measured in pesos, to 2,438,383.90 basis points, and 1.2% measured in foreign currency to 2,109.02 units. The leading stocks that rose the most this day are: Black Hill (-1.7%), YPF (-1.6%) and Mirgor (-1.5%).
From PPIthey questioned: “The question that arises regarding the index is whether the correction came after the impressive rally that extended throughout the year and, starting in August, with greater intensity. On other occasions we discussed that the index had begun to look relatively expensive in terms country riskalthough we also mentioned that, by taking data from 2023, we could be penalizing Merval excessively, since the context for equity is radically different.”
In this regard, they revealed that despite not having reached their all-time high of 2018, they do not rule out that it could do so soon. “The companies that make up Merval are substantially different from those of that time and can show much more value. However, the path will not be linear and the volatility that characterizes the index will give us something to talk about. Thus, the decision of some investors to take profits to close a great 2024 looks more than reasonable,” they added.
News in development.-
Source: Ambito
