The market shows an upward trend this Monday, in a rarefied context due to the electoral race, which conditions the dynamics of the main actions.
The argentinian bag list this monday with downtrend this Monday in the face of investor caution due to growing doubts about the local economic future and the expectation of the announcements to be made this afternoon by the Minister of Economy, Sergio Massa, of new measures to encourage consumption. Thus, the bullish streak that has been going on for three days in the local market could be cut.
In this scenario, the leading index S&P Merval falls 0.19% to 340,959.360 pointsafter gaining 5.33% during the past week, when it marked a record level of 339,352.51 units.
The share that rises the most in the leading panel this Monday is that of Mirgor (+3.07%), followed by Transportadora de Gas del Norte (+2.13%) and Aluar (+1.40%). While the falls are led by Telecom (-0.97%), followed by Transportadora Gas del Sur (-0.93%) and Pampa Energía (-0.89%),
“The weather of local political and economic uncertainty continues to act as a serious conditioning factor for valuations, despite the fact that more and more investors have a favorable strategic vision of equity,” said economist Gustavo Ber.
A few months before a defining presidential election, investor attention is focused on rising inflation, the scant reserves of the central bank (BCRA) and the country’s negotiations with the International Monetary Fund (IMF) to review goals and upcoming disbursements.
Argentine stocks on Wall Street
On Wall Street, Argentine shares operate with a bullish majority and climb up to 3.07%, led by Mercado Libre, Loma Negra (+2.33%) and Central Puerto (2.26%). Those that fell the most are those of Banco Macro (-1.89%), Transportadora Gas del Sur (-1.52%) and Grupo Financiero Galicia (-1.29%).
The bond dynamics
Bonds in dollars are trading this Monday with a bearish majority and register falls of up to 5.5%. The one that loses the most is Global 2041, followed by AL29 (-2.3%) and AL35 (-1.6%). The country risk rises to 2611 points.
Source: Ambito
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