After remaining inactive Thursday and Friday due to the local holidays of Día de la Patria, the Argentine stock market start the week up this Monday, in the midst of selective purchases that are given as a hedge against a difficult economic outlook and a few months before a presidential election.
The shares of the leading panel rise up to 1.98%, led by Cresud, which is followed by Aluar (+1.78%) and Transportadora de Gas del Norte (+1.68%). And, although there is a bullish majority, some papers fall. The one that loses the most is that of Loma Negra (-2.10%). The podium of the least favored this Monday is completed by Mirgor (-1.19%) and Transportadora de Gas del Sur (-1.26%).
In that scenario, the leading S&P Merval index thus gains 0.33% and rises to 344,967.530led by improvement in well-liquid stocks, after advancing 0.88% last week.
“In a long-term view, S&P Merval Index equals less than $700or less than 40% of its 2018 high of $1,800. However, the possibility of financial storms in the interim has meant that this alternative has still nascent traction,” said VatNet Financial Research.
The growing inflation, which could be around 130% this year, the critical level of the Central Bank (BCRA) reserves and a large fiscal deficit are the main issues that concern investors, at a time when a revision of goals is being negotiated. and disbursements with the International Monetary Fund (IMF).
On the other hand, the Minister of Economy, Sergio Massa, and the president of the BCRA, Miguel Pesce, traveled to China, where they will have meetings this week to, among other things, try to increase the freely available amount of the swap, a system of exchange of currencies that Argentina has with that Asian country, for US$5,000 million to increase the international reserves of the monetary regulator.
Argentine stocks on Wall Street
The papers of Argentine companies listed in New York show a mixed trend this Monday, with increases of up to 2.59% (Free Market). The rise in the role of Telecom Argentina stands out, which climbs (2.49%) and, also, that of Despegar (+2.46%). The latter maintains the upward trend of last week, when it climbed more than 12% in one day, although now it moderates the rise a bit.
Among the shares that have a negative trend on Wall Street this Monday, meanwhile, the fall of Bioceres (-3.28%), Transportadora de Gas del Sur (-3.30%) and Edenor (-2.87%) stands out ).
Bonds and country risk
Argentine dollar bonds also have a mixed trend. Those that rise the most this Monday are the Global 2035 (+3%) and the Global 2029 (+1.1%). Meanwhile, the AL29 falls -1.6%, the AL25 loses 1.3% and the AL30 falls 0.3%. While the country risk is located at 2,590 points, without changes for the moment.
Source: Ambito
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