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Sunday, January 29, 2023

The S&P Merval scores its eighth rise in a row, and ADRs climb as much as 6% on Wall Street

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On the day, the leading index S&P Merval BYMA scaled 1.5% to 237,553.47 points.

The leading panel measured in dollars CCL increases 0.6% and operates at 685.66 points, a new maximum since before the PASO of 2019, when it came to exceed 900 points. “The rise of the S & P Merval in dollars has been very important, as a result of the electoral trade and the expectations that generate a potential change of regime in 2023,” he told Scope Lucas Caldi, PPI Corporate Credit Team Leader.

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The financial papers continue in their bullish rally, thus the most important increases in the Stock Market are registered by the papers of Sociedad Comercial del Plata (+5.5%); YPF (+5.4%); and Grupo Financiero Galicia (+3.4%).

for his partthe main indices of the New York stock market fell during the day, because the comments from top US bank executives Concerns were deepening about the Federal Reserve’s monetary tightening slowing economic growth. so that the Dow Jones Industrial Average fell 0.1%, while the S&P 500 lost 0.4% and the Nasdaq Composite lost 0.3%.

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In this context and contrary to what is happening on Wall Street, Argentine assets show increases of up to 4.9%, such is the case of YPF, followed by Mercado Libre (+3.7%); and take off (+3.4%).

Bonds and country risk

In the fixed income segment, bonds in dollars operate with the majority of falls led by the Global 2035 (-4.1%), the Bonar 2035 (-2.8%) and the Bonar 2030 (-2.6%).

Thus, the risk country Argentinian rises 1.1% to 2,015 basis points. The indicator reached 1,991 points on Wednesday, the lowest level since the beginning of last June and far from the limit close to 3,000 points reached at the end of July.

The Central Bank (BCRA) maintained its referential rate the day before at 75% per year to accompany the positive returns of the market and after knowing the inflation data. This decision was advanced on Wednesday by Reuters.

Source: Ambito

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