The S&P Merval maintains a bullish streak: local shares rise up to 6%

The S&P Merval maintains a bullish streak: local shares rise up to 6%

The Buenos Aires stock market continues its bullish streak this Friday May 19 and hits all-time highsencouraged by topping shots before a difficult economic situation in a election year. This is happening while the market is still waiting for news from the negotiations with International Monetary Fund (IMF) regarding the goals of the current agreement.

In that framework, the BYMA’s S&P Merval stock index advances 0.7% to 333,491.23 pointsafter renewing a intraday record of 334,590.04 units.

“The Merval strengthens its (upward) trend due to persistent hedging of well-liquid paper,” said a stock trader, adding that “in a climate of uncertainty the market does not want to stay in pesos.”

Yolearn more – I followed the price of the blue dollar, official, CCL and MEP in Argentina

The porteño square it operates with a majority of increases. In this framework, the papers of the leading panel that lead the increases are those of mirgor (+5.7%); BYMA (+4.1%); Transportadora de Gas del Norte (+3.8%); Pampa Energía (+2.8%); and Transportadora de Gas del Sur (+2.3%).

On the contrary, among those that operate with negative numbers, the most affected are BBVA Argentina (-2.2%); Banco Supervielle (-1%); Banco Galicia (-0.8%) Banco Macro (-0.7%); and Sociedad Comercial Del Plata (-0.5%).

on wall streetFor their part, the shares of Argentine firms operate mostly downward, led by edenor (-2.9%); IRSA (-1.8%); MercadoLibre (-1.7%); Bioceres (-1.7%); and BBVA Banco Fancés (-1.2%).

The main increases, meanwhile, are recorded Pampa Energy (+3.3%); Transportadora Gas del Sur (+2.4%); Central Port (+1.5%); Telecom (+1.1%); and Cresud (+0.8%).

Bonds and country risk

In the fixed income segment, sovereign bonds in dollars operate with majorities of increasesby advancing up to 4.3%, as is the case of Global 2038. The podium with the highest increases is completed by Global 2046 (+2.4%) and the Global 2035 (+2%).

In this framework, the country risk falls 0.3% to stay in 2,585 basis points.

Source: Ambito

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