S&P Merval starts the week on the rise: energy shares climb up to 8%

He S&P Merval de Bolsas y Mercados Argentinos (BYMA) achieved this Monday, June 5 the biggest intraday rise in more than six months when climbing up to 355,276,370.

The Argentine stock market rises with selectivity in the first operations of Monday due to the hedging of well-liquid papers at a time when economic and political doubts are making themselves felt a few months before a presidential election.

The leading stock index of the Buenos Aires stock market climbs after improving 3.3% last week and score a record intraday level of 358,155.61 units on Friday.

“They continue to dominate conservative criteria regarding local investments“he said about it VatNet Financial Research.

The government of Alberto Fernandez managed last week to expand a currency ‘swap’ with China and is currently renegotiating the goals and disbursements with the International Monetary Fund (IMF) with the objective to bring some peace of mind to the markets.

Actions

The actions trade with bullish trend with barely a drop of (1.6%) parto Aluar Aluminio Argentino SA. The largest variations are for Edenor (8%); central port (3.7%) and for the Galician Financial Group (2.5%).

On Wall Street, meanwhile, Argentine ADRs are also operating in the green, with declines for Take off (1.2%) and Bioceres Crop (1.6%). The biggest variations are for: edenor (7.5%) central port (4.7%) and for IInvestments and Representations (IRS) 2.8%.

Bonds and country risk

in the segment of fixed rentdollar-denominated bonds they operate with mixed with drops of 1.5% for the GD38D and 1.9% for the AL29D; Meanwhile he CO26D registers an increase of 1.4%.

For its part, the country risk falls 1.4% until the 2,552 points basic.