In that framework, the S&P Merval stock index of Argentine Stock Exchanges and Markets (BYMA) improved 0.3% to 91,337 points, led by the improvement noted in shares of the energy segment in anticipation of an increase in utility rates.
the papers of Cresud and Transportadora de Gas del Sur posted increases of 4.8% and 1.4%in that order, in the leading panel of the Buenos Aires stock market.
Meanwhile, the ADRs of Argentine companies on the New York Stock Exchange marked mixed listingson a day in which Galicia Financial Group led the pack of gainers with a 2.3% increase, while Bioceres led the losers, down 5.2%.
The sharp rise in inflation, which reached 6.7% in March, the hike in Central Bank rates, the next review of IMF accounts in mid-May and strong tensions in the government coalition are issues that keep the market’s attention .
On the other hand, the war in Ukraine exacerbates inflationary pressures and the tightening of financial conditions, hitting emerging economies.
In the fixed income segment, dollar-denominated sovereign bonds rose up to 1.7% on the Buenos Aires stock market, with the leadership of the Global 2030. In New York, on the other hand, they posted drops of 0.1% on average.
Therefore, the Argentine country risk rose three basic points, to 1,691 units, amid heightened global risk aversion.
“We understand that the significant price differential between the bond issues under local and international legislation would not be justified, since the eventual fate of both would be even”, noted VatNet Research.
In addition, CER bonds (adjusted for inflation) continue to be in strong demand, registering increases of up to 2.1%.
Source: Ambito
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