The S&P Merval at its all-time high: which are the stocks that are leading the rise

He S&P Merval up 1%until the 1,144,423.660 points. In this way, it reaches a new all-time high after surpassing the previous mark of the 1,135,099.390 units.

In this framework, the shares that rise the most this Friday are those of Supervielle Group (+4.1%), Galicia Financial Group (+2.5%) and Edenor (+23%). Meanwhile, among those that fall the most are those of Cresud (-1.1%), Aluar (-0.7%) and Black Hill (-0.6%).

ADRs on Wall Street: how much does it trade at this Thursday, January 18

Meanwhile, Argentine stocks that operate in Wall Street operate mixed. Those that rise the most are those of Free market (+2.6%), followed by Supervielle Group (+1.8%) and Galicia Financial Group (+1.1%). While among those that fell the most are those of Take off (-2.1%); Southern Gas Carrier (-2.1%) and Central Port (-1.1%).

The S&P Merval rose for the fourth round in a row: in what context?

The repetitive devaluation pressure induces distortions in foreign trade and complicates the government’s decision to maintain official parity with a monthly controlled loss of just 2% (“crawling peg”), when the rise in retail prices runs above 20%, which in turn increases the negativity to invest in local currency.

The global strength of the dollar from the perspective that Federal Reserve (Fed) will maintain the rates without changes for longer than expected also plays against the Argentine Government that took office on December 10.

“The Government’s ‘honeymoon’ is beginning to fade because it has a complex political scenario. To this you add that There is no investment in pesos that beats inflationhence holding dollars is the elemental tool that you have on hand,” commented the analyst Marcelo Rojas.

The Government maintains negotiations in Congresswhere it has a minority, to try to unblock the call omnibus law with which he wants to lay the foundations for a broad economic deregulation, which is added to a current decree (DNU) with judicial objections that paralyze part of the implementation.

“Progress is still expected from the ‘omnibus law’, and the DNUin search of improve the expectations of economic agentscrucial to try to cushion the costs associated with the implementation of the emergency plan,” commented the economist Gustavo Ber.

While, Milei He emphasized in his speech at Davos World Economic Forumthat economic opening It is what will enable sustained growth and he criticized socialism for impoverishing the population.

Argentina endures one of the highest retail price increases in the worldwith drag of 211.4% in 2023 and jump to 276.4% in the wholesale index, which leaves an adverse scenario for the first quarter of this year. Meanwhile, the official peso collapsed 55.4% last month alone and fell 78.1% over the previous year.