The porter bag maintained its bullish course this Friday, May 12, before a evident investor selectivity product of the uncertainty generated by the inflation data for April presented, which was 8.4%, data that exceeded expectations and complicates the progress of the economy.
“The data (inflation) exceeded all forecasts (…) The Government cannot solve the problem because it does not understand the origin,” said the economist Daniel Artana from the FIEL consultancy.
He The S&P Merval stock index chained six rises in a row and accumulated a weekly rise of 8.3%, after increasing 2.6%, to 321,529.57 points. in the day, scored a intraday record in pesos of 322,280.82 unitsagainst an upward drag of the 11.2% in the previous five consecutive sessions.
The actions of the leading panel ended with the majority of positive variations, led byr Loma Negra (+7%), Pampa Energía (+6.7%) and Transportadora de Gas del Sur (+6.7%). while they fell only the shares of Grupo Financiero Galicia (-0.2%), Telecom (-0.5%), Mirgor (-0.6%), Sociedad Comercial del Plata (-1.2%) and YPF (-1, 2%).
YPFcontrolled by the state, sees likely an increase in crude oil imports in the coming quarters, particularly during the austral spring, at a time when the company is carrying out maintenance projects together with the development of several new pipelinesit was said from the company.
Argentine shares on Wall Street
on wall streetArgentine shares closed mixedwith increases of up to 4.6%headed por Loma Negra, Bioceres (+3.9%) and Transportador de Gas del Sur (+3.6%). Meanwhile, those that fell the most were those of Despegar.com (-5.5%), YPF (-3.3%) and Grupo Financiero Galicia (-2.8%).
Bonds and country risk
Argentine dollar bonds ended with a bullish predominance reaching increases of up to 5.2%. The one that climbed the most was the LA35 (+5.9), followed by Global 2029 (+4.3%) and LA30 (+2.4%). While the greatest losses were shown by the GD41 (-4.4%), AL41 (-3.5%) and GD46 (-1.9%).
He risk countrywhile, rose 2.6%until the 2,584 points.
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.
