The Buenos Aires stock market continued its bullish streak this Friday May 19 and reached all-time highsencouraged by topping shots before a difficult economic situation in a election year. This happened 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 advanced 2.25% and closed the day at 338,677.61 pointsafter renewing a intraday record of 334,590.04 units.
“The Merval strengthens its (upward) trend due to persistent hedging in papers with good liquidity”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 closed with the majority of increases. Within this framework, the papers of the leading panel that led the rises were those of BYMA (+9%); Mirgor (+7.8%); Transportadora de Gas del Norte (+6.9%); Cresud (+6.1%); and Ternium (+5.9%). On the contrary, among those that closed with negative numbers, the most affected were YPF (-0.9%), Sociedad Comercial del Plata (-0.6%), and Grupo Financiero Galicia (-0.1%).
The S&P Merval measured in dollars shows a very good performance both today and in the accumulated year. Compared to the main Wall Street index (SPY5000), the S&P Merval outperforms by more than 7.7 points.
on wall streetFor their part, the shares of Argentine firms closed mostly with increases. The main Cresud (+3.6%), Grupo Supervielle (+3.2%), and Pampa Energía (+2.7%). led the casualties Edenor (-2.7%), Mercado Libre (-1.6%) and YPF (-0.6%).
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars closed with majorities of increasesby advancing up to 4%, as is the case of Global 2038. The podium with the highest increases was completed by Global 2035 (+2.8%) and the Bonares 2029 and 2030 (+2.2%).
In this framework, the country risk falls 0.3% to stay in 2,585 basis points.
Source: Ambito
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