The market ended slightly higher this Monday, in a rarefied context due to the electoral race, which conditions the dynamics of the main actions.
After starting the day in negative territory, The Argentine stock market added its fourth day to the rise before rearrangements of portfolios, while dollar bonds and ADRs traded mixed, awaiting the announcements to be made this afternoon by the Minister of Economy, Sergio Massa, of new measures to encourage consumption.
In this scenario, the leading index S&P Merval rose slightly 0.09%. The Buenos Aires stock market marked, when averaging the session, a maximum historical level of 340,959.36 units.
The share that rose the most in the leading panel this Monday was that of Central Puerto (+4.9%), followed by Mirgor (+4.4%) and Aluar (+4.2%). While the decreases were led by Sociedad Comercial del Plata (-2.7%), Grupo Financiero Galicia (-2.5%) and Banco Supervielle (-2.4%).
Damián Vlassich, Senior Equity Analyst at IOL investoronlineopined that “in a year that will be largely marked by the presidential elections, when it comes to investing, we consider that it is always relevant to highlight companies with good fundamentals. In this sense, there are several interesting companies in terms of their fundamentals in both oil and energy.In this group we highlight Central Puerto (CEPU), Transportadora de Gas del Sur (TGSU2), Pampa Energía (PAMP) and YPF (YPFD).
For its part, Ecolatina analyzed the macroeconomic situation: “The acute shortage of foreign currency, added to the instability of a high exchange rate gap and the weakness in the demand for pesos considerably limit the possibility of deepening the accumulated exchange rate delay or tending to interest rates negative reals, while the possibility of freezing public utility rates and/or accelerating public spending in real terms collides with the lack of financing“.
on wall street, Argentine stocks ended with a majority of losses. Thus, the main ones were Banco Supervielle (-4%), Bioceres (-3.3%) and Despegar (-3.3%). The increases, meanwhile, were led by Central Puerto (+5.5%), Cresud (+2.6) and Mercado Libre (+2.2%).
The bond dynamics
Bonds in dollars closed with the majority of increases. The main increases were the Global 2046 (+2.8%), and the Bonar 2035 (+1.7%). The country risk measured by the JP.Morgan bank fell 20 units to 2,577 basis points towards the close of the local market.
“The average parity of the bonds in dollars remained in the range of 25.5/26 dollars (per unit),” said Portfolio Personal Inversiones.
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