The porteño bag operates upwards this Monday, after registering slight readjustments due to the adverse global context, announcements of new taxes on large companies and short profit takings on Friday, amid persistent coverage shots facing a difficult economic situation and a few weeks before a presidential election.
The leading index, the S&P Merval, rises 1.5%, to 575,763.980 units, after falling 0.7% on Friday and accumulating an increase of 7.4% over the past week.
“Everything indicates that the index of the local stock market should continue his bullish march the rest of the yearcaused, perhaps, by the injections of liquidity in the economy that generated an excess of monetary supply, translating into upward impulses, due to an excess of demand, both from the stock market like the exchange market,” he said Mauro Natalucci of Rava Bursátil.
The elevated inflationary pressure and the devaluation of currency induce coverage shots in assets and pressures in the exchange market.
ADRs and shares
In the leading panel, local papers rise up to 3.6% led by Southern Gas Carrier, Stock Bank (+3.5%), and Transener (+3.2%). Those that go down are BYMA and Supervielle 1.3% and 1%respectively.
On Wall Street, Argentine stocks rise up to 5% led by Southern Gas Carrier, Edenor (+3.6%) and Telecom (+3.1%).
Bonds and country risk
The dollar bonds have generalized falls with the Global 2038 (-3.9%) in the lead, followed by the Bonar 2041 (-2.8%), and the Global 2046 (-1.9%). For his part, the risk country-as measured by JPMorgan- advances 97 units to 2190 basic points.
Source: Ambito
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