Argentine Stock Exchanges and Markets (BYMA)the local stock market, began the week rising, renewing all-time high levels, encouraged by a greater global appetite for risk and by hedging against a strong local inflationary escalation.
However, at this time, the S&P Merval stock index worsened its performance and is operating with a slight drop, on a day in which the market awaits possible reactions and announcements from the Government throughout this week in response to the high inflation rate of March.
He S&P Merval shows a fall of 0.26%, to 275,010.360 unitsafter reaching an intraday historical record of 277,011.76 points in the first deals.
“Definitely, the better mood abroad led to greater risk taking that benefited Argentine equities,” said Portfolio Personal Inversiones (PPI).
For its part, the 7.7% rise in retail prices in Argentina, which projects an inflationary escalation above 100% for this year, induces hedging in the stock market, commented operators.
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“According to high-frequency measurements, accumulated inflation in the first week of April would be between 2.8% and 3.1% per month, the highest weekly records since September 2018,” PPI said.
ADRs, with negative dynamics
For their part, the shares of Argentine companies on Wall Street also show a mostly downward trend. They fall to 5.68% this Monday. Such is the case of Adecoagro, which is the one that sinks the most on the New York stock market, followed by Cresud (-2.78%), Central Puerto (-2.44%) and Pampa Energía (-2.40% ).
Meanwhile, those of Despegar (+0.86%), BBVA (+0.61%), IRSA (+0.57%) and Bioceres (+0.36%) rose.
Bonds and country risk
Argentine bonds in dollars operate with a mixed trend, although the majority is bullish. LA29 (-1.9%), AL41 (-0.4%) and Global 2035 (-1.1%) fell. And the AL35 (+2.5%), Global 2038 (+1.5%), Global 2029 and 2030 (both up 0.5%) and AL30 (+0.1%) rose. With these data, the country risk rises 2.04% to 2400 points.
Source: Ambito
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