The greatest decreases in the leading panel were for Loma Negra (-4.6%), Transener (-3.9%) and Galicia (-2.6%). Among the few increases of the day, the shares of YPF (+ 1%); from Edenor (+ 1%); and Aluar (+ 0.9%).
Throughout the week, BYMA’s leading panel posted a 2.2% rise, measured in pesos.
For its part, ADRs operated with the majority of losses, led by Despegar (-5.8%); Loma Negra (-5.8%), Transportadora de Gas del Sur (-4.8%). While the only rises of the day were recorded by Edenor (+ 3.1%), and Mercado Libre (+ 1%).
“This Sunday the mid-term general elections will be held and the market speculates the different possible results”, assured Portfolio Personal Inversiones (PPI) and added: “The results of the Province of Buenos Aires, the Autonomous City of Buenos Aires and the national aggregate will be a mandatory stop of all political analysis, especially, to infer that it could happen in the face of the ( presidential ballot of) 2023 “.
“There is a lack of certainty as to what the Government is going to do from here onwards”, assured the economist Fausto Spotorno.
“It happens that after the elections will come the reactions and political strategies of the ruling party, and of the opposition, which are key to assessing the viability of facing an area of consensus that allows progress towards an agreement with the IMF and a convergence in economic imbalances “said the economist Gustavo Ber.
And he added: “Investors expect news in the short term since they recognize that the current dynamics is not sustainable, and that is why urgent definitions are required to prevent a new crisis in time.”
Bonds and Country Risk
In fixed income, the main bonds in dollars closed mixed, with increases led by Bonar 2041 (+ 1.8%); and drops led by Global 2041 (-1.4%).
For its part, the Argentine Country Risk fell 0.3% to 1,748 points, from its highest level since the debt swap with private companies, although it was on its way to scoring its fifth consecutive weekly rise (+ 1.3%).
In turn, bonds in pesos that adjust for CER rose to 1.3% (PR13) after it was known that retail prices rose 3.5% in October (more than expected by the market), with which they accumulated a 41.8% increase so far this year and a year-on-year increase of 52.1%.
Source From: Ambito
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