After starting the day in low, the index S&P Merval by BYMA bounced 2.7%, to 89,883 units, against the 8.8% drop in the previous four sessions and its intraday record of 97,024.42 points recorded last week.
The most important rises of the day were carried out by the shares of Telecom (+ 4.7%); Pampa Energía (+ 4.5%); YPF (+ 4.5%), and the bank BBVA (+ 4.3%).
The volume traded in shares fell for the sixth consecutive day, registering a decrease of 11% to $ 1,649 million, representing 32% of the total traded in equities (the amount traded by the Cedears rose 7.8% to $ 3,042.7 million).
The rebound of the leading panel occurred at a time when the financial market seeks hedging in foreign currency after the adverse result for the Government in the legislative elections. Thus, From now on, he will have to negotiate with the opposition relevant issues in Congress, including a crucial agreement with the International Monetary Fund (IMF).
“The stock market expects positive news to continue with the trend for part of October and November,” commented a trader. Investors are waiting with expectation for signals from the Multi-Year Program for Sustainable Development. “The basis of the plan is to know what growth strategy can be sustained in a context of an unpayable debt with the International Monetary Fund, and in an inflationary scenario,” added market sources.
On Wall Street, on the other hand, Argentine stocks operated with a majority of increases, among which the performance of Take off, with a jump of almost 9%. Then the papers of Pampa Energia (+ 4.5%); Telecom Argentina (+ 4.1%); and YPF (+ 3.8%).
In the fixed income segment, dollar bonds lost up to 2.2%, as happened with the Global 2030 (GD30D). Within this framework, the Argentine Country Risk rose 1.3% to 1,742 basis points.
Analysts say that corporate bonds have a special look from investors given the relationship between risk and return, in a financial context of inflation, fiscal deficit, unemployment and lack of agreement with the IMF for a millionaire debt.
Source From: Ambito
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