The Buenos Aires stock market extends its positive streak this Tuesday March 19 to the just like the Argentine companies listed on Wall Streetwhile The AL30 bond exceeded US$50 and the country risk reached a new minimum in 30 months. Operators and analysts agree that the local financial market seeks align with favorable macroeconomic indicators, despite the political disputes faced by the new Government of Javier Milei.
The index S&P Merval advances 2.2% until 1,148,865.86 unitsafter jumping 5.4% in the previous round, pushed by the energy ones.
In the leading panel, the stocks that rise the most are those of Mirgor (+10.4%), Supervielle Group (+6.5%), and Transener (+4%). Meanwhile, the only ones that go down are those of Northern Gas Carrier (-1.6%), and IRSA (-0.8%).
The increases in Argentine stocks are linked “to the continuity of the greater investment appetite, enthusiastic about the economic ‘roadmap’ that is being carried out despite the political tug-of-war”Economist Gustavo Ber commented to Ámbito.
Last week, the Senate rejected a megadecree (DNU) that deregulates the economy enacted in December by Milei, in a severe setback for government objectives, although it remains in force until its next treatment in the Chamber of Deputies.
In favor of macroeconomic improvement, although with serious social risks due to the high poverty and destitution suffered by Argentines, there is less exchange pressure thanks to a firm liquidation of foreign exchange from the agricultural sector, which allowed the BCRA to overcome recently purchasing $10 billion for its battered net reserves.
This Tuesday The trade balance for February is released and it is expected to be the third consecutive month with a positive balance. The government has just reported an unusual fiscal surplus in the first two months of the year.
Argentine shares on Wall Street
The papers of Argentine companies that are listed in NY recorded the majority of increases, led by Supervielle Group (+5.2%); Gas Conveyor (+4%) and Edenor (+3.3%).
Meanwhile, those that decrease the most are those of Cresud (-0.4%), Free market (-0.2%) and Take off (-0.2%),.
Bonds in dollars: how they operate today, Tuesday, March 19
In the fixed income segment, dollar bonds rise to almost 5%, led by the Bonar 2038 (+4.6%), you Global 2029 (+4.2%) and the Global 2046 (+4.2%). Meanwhile, the only one that drops is the Global 2046 (-1.1%).
On the day, the Bonar 2030 or AL30 bond gains 1.6% and exceeds US$50, to reach its highest level since the debt restructuring in 2020.
In that context, the risk country drops 23 units to 1,558 points, new low since September 2021.
Bonds in pesos: how they operate today, Tuesday, March 19
For their part, the CER mixed prices. Those that rise the most are PAP0 (+2.6%) and the PARP (+1.3%), while those that fell the most were DICP (-1.6%) and the DIP0 (-1%).
For its part, dollar linked sovereigns operate disparately: T2V4 falls 2% and TV24 advances 0.1%.
Source: Ambito
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