The main promotions of the day were carried out by the actions of Grupo Financiero Galicia (+ 5.1%); Central Puerto (4.1%); Grupo Financiero Valores (3.8%); Mirgor (3.3%); and Banco Macro (1.6%). On the other hand, the decreases corresponded to Pampa Energía (-0.2%); Telecom Argentina (-0.1%); and Edenor (-0.1%).
The volume traded in shares continued to rise sharply, rising another 24% to $ 1,652.5 million, the highest since last September 20. Thus, the negotiated amount of local company papers gained participation in the variable income segment (they represented 44% of the total), compared to a fall in the volume of Cederar, which barely managed to exceed $ 2,000 million (lower record in what that goes of the month).
Regarding the weekly accumulated, the actions of Central Puerto jumped 15.9% and led the ranking of the biggest hikes, followed by Cresud (+ 10.3%); and those of Ternium (+ 10.2%).
On Wall Street, meanwhile, the papers of Argentine firms ended this Friday with the majority of positive results, led by Central Puerto (4.5%); Grupo Financiero Galicia (4.1%); Macro Bank (3%); Tenaris (2.7%); and Irsa (2.7%). The casualties, meanwhile, corresponded to Pampa Energía (-1.1%); Edenor (-1%); and Telecom Argentina (-0.6%).
“The search for a clear driving force continues and this keeps us awaiting the legislative elections” on November 14, said Ayelen Romero, from Rava Bursatil. He added that “among the possible scenarios, and compared to the mid-term elections of the previous month (primaries), the market could respond again quickly the previous week or the following days; it will depend on how the day to day of the sector transits policy and how investors react accordingly. “
The week ended with a speech by President Alberto Fernández at the colloquium of the Institute for Business Development of Argentina (IDEA). The president referred to several key issues for the business world with a perhaps more conciliatory tone. He stressed the temporary nature of the bans on dismissals and double compensation, and spoke of the need to convert social plans into work. “For now, credibility is still tied to practice, and today it is very low. As long as the economic measures taken go in the opposite direction to this discourse, the markets will not be so optimistic, “they analyzed from a stock market company.
With a promising start to the third quarter balance sheet season, meanwhile, Wall Street had another good day this Friday, and the S&P 500 gained 0.8%, which led it to accumulate a weekly rise of 1.8%. For their part, energy-related commodities closed the week mixed: WTI oil rose 3.7% weekly, while the natural gas contract with delivery in November fell 2.7% weekly.
In the fixed income segment, bonds denominated in dollars closed with a majority of losses, led by Bonar 2035 (-1.2%) and Bonar 2029 (-1%). In the week they yielded around 2%.
“A little less than 30 days before the legislative elections, the negative sentiment within the market persists. Argentine bonds cannot raise their heads with a curve that is deepening its negative slope,” they commented from the market.
All in all, the Argentine Country Risk closed stable at 1,629 points, after touching 1,634 points during the day, that is, its highest level since mid-March.
Among the bonds in pesos, meanwhile, the adjustable ones by CER ended a great week, except in TX23 where sell orders appeared, a day after it was known that inflation accelerated in September to 3.5% (accumulates in the year 37%), a figure above market expectations (analysts they expected 2.8% on average, and 3.3% at most). Let us remember that in August the CPI had marked 2.5%, the lowest monthly figure of the year.
During the week, they accumulated a gain of 0.8% in the short part and 1.5% in the middle / long section of the curve.
While, dollar linked securities ended the day practically neutral, seeing movement in the middle part of the curve (TV22, Q2V2). During the week, the short section rose by 0.4% on average and the long section by 1.5% on average.
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
