The Argentine shares soar up to almost 8% this Monday, May 6 on Wall Street, leading to the Buenos Aires stock market to record its third consecutive increase before purchases by institutional investors.
The advances of Argentine papers are led by Cresud (+7.4%); BBVA (+5.7%); and Edenor (+5.4%).
The average sanction in Congress achieved for the so-called ‘Bases Law’ and recent positive indicators for the domestic economy breathe life into the market and drive record values in years to Argentine stocks.
In the Buenos Aires stock market, the index S&P Merval of the Buenos Aires stock market improved 2.7%, at a record level of 1,491,708 units, after gain 6% on Friday and accumulate an advance of 13.3% over the past week.
BYMA Leading Panel It is trading above 1,300 points measured in dollars (on the day it advances 3.3% to 1,338 points)which represents your highest level since 2018.
“Since mid-November the ‘planets’ have aligned for Argentine stocks and bonds and everything suggests that this trend will continue”they said from Delphos Investment.
Bonds and country risk
In the fixed income segment, meanwhile, dollar bonds They operate with ups and downs, after accumulate falls during the past week.
The main advances are recorded by Global 2046 (+1.9%); the Global 2029 (+1.6%); and Bonar 2029 (+1.5%). On the contrary, they lower the Bonar 2041 (-0.7%); Bonar 2025 (-0.2%); and Bonar 2038 (-0.2%).
For its part, Argentine country risk fell 0.2% to 1,240 basis points.
Source: Ambito
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