For its part, the S&P Merval index of BYMA it gained 2.5%, to 214,952 points. The energy and financial sectors are the most in demand for liquidity in dance, standing out again the shares of the state oil company YPF with an increase of 2.9%, and those of Grupo Financiero Galicia with a firm 4.8%.
The leading shares of the BYMA leading index climbed more than 10% in this first week of the yearafter the outstanding increase of 142% in 2022, which positioned the market among the most profitable in the world.
“Stocks in Latin America remain higher after the US jobs data, which could cause the Federal Reserve to stop raising interest rates aggressively. This supports stocks in the US and Europe, spreading optimism to the Latin American stock markets”said Alexander Londoño, an analyst at ActivTrades.
The Government will enable extraordinary sessions in Congress next week to discuss, among other things, the impeachment of the Supreme Court, while the retail price data for 2022 will also be made official, which could lead the central bank (BCRA) to take some new decision on monetary policy.
“There is a strong issuance that partly goes to the stock market and another to the dollar, with the interest on the ‘Leliq’ bills and the Central Bank (BCRA) passes being the central factors of the ongoing monetary expansion,” said the analyst. Marcelo Rojas.
“A prudent attitude could lead the Central Bank to maintain interest rates (next week) awaiting new data that confirms the slowdown in inflation. On the other hand, if it were to adopt a more lax position, it could decide to moderately reduce rates rates, which would increase the pressure on the ‘CCL'”, explained a bank agent.
Bonds and country risk
In the fixed income segment, on the other hand, dollar bonds operate with falls of up to 2%
The decreases are led by Bonar 2029 and Bonar 2030 (-1%). Thus, the Argentine country risk increases 0.3% to 2,124 basis points.
Let’s remember that on Tuesday, the Ministry of Economy managed to reschedule payments this week for about 3 trillion pesos (about 16,820 million dollars) during the first quarter of the year, after an operation with high bank participation, where it extended payment terms between April 2024 and February 2024.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
