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Tuesday, December 6, 2022

The S&P Merval posted its fifth rise in a row, without the Wall Street reference

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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 complicated, which is why investors seek refuge and try to dollarize positions”said a financial trader.

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The Merval improved “In a context of portfolio dollarization in the face of growing doubts about the strength of the domestic economy”expanded Research for Traders.

For his part, the Minister of Economy, Sergio Massa, will announce on Monday a new foreign currency differential settlement program for the soybean complex.

Bonds and country risk

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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. Behind it also appeared the Bonar 2038 with a rise of 2.8%. While, the country risk measured by the JP Morgan bank remained at 2,406 units.

“The bonds in the local over-the-counter segment did not show large deals that could set a trend”operators commented and remarked that this was due to the holiday in the United States, for which they did not operate on Wall Street.

For his part, dollar-linked sovereign bonds only had decent volume in the short tranche which rose 0.5%. The duals, meanwhile, rose 0.4% in the short section and remained unchanged in the long section of the curve. Regarding the CER segment, the short leceres and boncers closed with average increases of 0.5%, while the long tranche fell by 0.6%reported SBS Group.

Source: Ambito

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