S&P Merval rebounds after falling almost 25% in the last 9 days, but bonds deepen decline

The porteño bag rebounds this Tuesday, September 12 after falling almost 25% in the last nine days for a selective buying wave in search of backward papers such as the energy sector, but with investor caution due to the great uncertainty in the economic and political scenario. The situation of the papers listed in Wall Street also improves when advancing up to 6%, but the dollar bonds They deepen low.

The index S&P Merval from Buenos Aires bounces a 3.1%, to 530,157.74 unitsafter dragging a drop of 24.8% accumulated in nine previous sessions.

The benchmark stock leader recorded its intraday record at the end of August at 690,781.66 points, a month in which it rose an unusual 43% and which served to take profits.

“We see that an interesting opportunity to enter these ‘oil’ papers is opening up with a medium-term perspective, knowing that in the short term they still present a correction trend and the decline in the price of the ‘Creole’ (local) barrel continues,” he said. the consultant Delphos Investment.

Savers are evaluating their holdings ahead of the presidential elections in October, while high triple-digit annual inflation and the devaluation of the peso persist.

Stocks, bonds and country risk

The papers that rise in the Buenos Aires stock market are: Edenor (+5.7%), Pampa Energía (+5.5%), and BBVA (+5.4%). While in wall street, Argentine ADRs advance up to 5.9% led by Pampa Energyfollowed by Central Port (+4.9%) and Edenor (+4.7%).

Meanwhile, in the fixed income segmentthe dollar bonds deepen fall, led by Bonar 2038 (-23%), Bonar 2029 (-1.9%) and Global 2035 (-1.5%). The only public securities that rise are Global 2041 (+1.8%), Bonar 2041 (+0.4%) and Bonar 2035 (+0.3%).

For its part, the country risk measured by JPMorgan rises 5 points (-0.2%) to 2,175 basis points.