Despite this, the S&P Merval accumulates a rise of 23.9% so far this month and 17.4% measured in foreign currency. In the leading panel, the biggest increases were for Ternium (+5.8%), Transportadora de Gas del Sur (+5.1%) and Cresud (+4.6). The losses, meanwhile, were led by the financial sector at the hands of Banco Macro (-2.4%), Grupo Financiero Galicia (-2.2%), and Banco Supervielle (-2%).
The market rises “in the middle of expectations for a possible expansion of the share buyback programwhich would be important in seeking to sustain prices after the appreciations,” said economist Gustavo Ber. It should be noted that Economy Minister Sergio Masssa said last week that there will be a repurchase of external debt for some US$1,000 million.
“There is no concrete data regarding an increase in the firepower (of the Government) to carry out a significant repurchase”said Portfolio Personal Inversiones and expanded: “If (the…) rumors (of potential REPOs) don’t turn out to be true, the initial effect is likely to wear off.”
For their part, companies listed on Wall Street closed with the majority of increases, and the most notable were lThe shares of Globant (+3.8%), Telecom (+3.3%), and Ternium (+2.9%). Meanwhile, the New York Stock Exchange closed higher this Monday, driven by technology, when a hectic week begins in business results and in which investors tend to be more optimistic. The Dow Jones index rose 0.8%, the tech-heavy Nasdaq gained 2% and the S&P 500 rose 1.18%.
Bonds and country risk
In the fixed income segment, the dollar bonds closed with the majority of increases, the most significant Global 2041 (+3.1%) and Global 2029 (+2.9%). Thus, the country risk measured by JP Morgan fell 0.11% to 1,872 basis points.
For his part, dollar-linked sovereign bonds closed mixed: with Q2V3 it fell 0.2%, while TV23 and TV24 rose 0.7% on average. On the dual side, they also traded mixed with marginal increases in the middle of the curve but with falls in both TDJ23 and TDF24 in the order of 0.6% on average.
As for the CER segmentboth the Leceres and the Bonceres “were erratic, alternating ups and downs along the curve, standing out the Lecer X18S3, which closed with an increase of 2.5%,” said the SBS Group.
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.
