The bag porteña scored this thursday may 11 its fifth rise in a row, with investors expecting the inflation data for April that will be released this Friday. It was on a day in which the performance of the Bioceres share stood out, which flew almost 10% on Wall Street, after the presentation of its balance sheet.
In this scenario, the index BYMA’s S&P Merval erased a foreseeable profit-taking at the opening and went on to gain 0.9% at the close, at 313,281.43 points, while waiting for the arrival of YPF’s balance sheet. The lead panel renewed its intraday record high in pesos with 317,007.22 units as portfolio hedges in the face of the complex situation, to surpass the previous record with data from the day before.
As on Wednesday, the role that showed the best dynamics was that of Mirgor, which jumped 5.8%. The share of Transportadora de Gas del Sur also registered a good performance, which rose 4.9%, while the podium of the assets that climbed the most was completed by Grupo Financiero Valores (+4.4%).
For its part, the stock that fell the most was Ternium (-3.9%), followed by Cresud, which lost 2%, and Telecom (-1.8%).
The INDEC will release this Friday the retail price index (CPI) for April, a period in which private analysts forecast an average increase of 7.5%, after the surprise 7.7% in March, higher levels in just over two decades.
“Higher-than-expected inflation, which cannot be ruled out, would trigger more purchases of dollars and there is fear of some currency run like we had last month, which is why the Government is closely monitoring the price instantly”, explained a market agent. A recent World Bank report highlights that Argentina has the second highest annual inflation in the world in the food sector, with 107% per year, after Lebanon’s leadership.
On the other hand, from the IMF it was affirmed that there are “positive” talks with Argentina to rediscuss goals of a last agreement, according to its official spokesperson, linked to the historic drought that affected the public coffers of the Government.
Argentine shares on Wall Street
In Wall StreetMeanwhile, the Argentine shares listed on that market closed with the majority of increases, highlighting the role of Bioceres, which climbed 9.1% before the presentation of its quarterly results.
Meanwhile, the dynamics in international markets is bearish this Thursday, as a result of the poor performance of some central actions, such as Disney, but also due to the macroeconomic data from the United States, which hint at the possibility that the Federal Reserve ( Fed) will continue to raise the rate in the coming months, even though the inflation data for April was lower than that for March.
Bonds and country risk
In the fixed income segment, the Argentine dollar bonds ended mixed, with gains led by LA30 (+2.5%), and LA29 (+1.7%).
For his part, he risk country, that measures the JP.Morgan, rose 20 basis pointsto 2,523 units.
Source: Ambito
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