The leading S&P Merval index of the Buenos Aires stock market rebounds 1.9%, to 1,531,576.960 units, after collapsing 9.4% in the previous three business sessions. For their part, dollar bonds stopped their collapse and recorded slight advances.
The Argentine stock market revives this Friday due to opportunity purchases, after suffering strong collapses in recent days due to political and economic uncertainty in the country. Thus, it is observed a slight recovery in stocks and bonds this Friday, June 7.
This trend occurs in the midst of a complex political panorama in which Congress voted to increase pensions that, According to the Government, it puts the balance of public accounts at risk and, on the other hand, it called a session in the Upper House for Wednesday to debate the “base law” and the fiscal package promoted by the ruling party.
The S&P Merval rises: shares rebound
In that context, The leading index S&P Merval of the Buenos Aires Stock Exchange rises 1.9%, to 1,531,576.960 units, after collapsing 9.37% in the previous three business sessions.
The shares of the leading panel climb up to 4.5%, led by Edenor, Transportadora de Gas del Norte (+4.4%) and Supervielle (+3.79%).
“Given that we are still waiting for stronger signals to think about sustainable macro normalization, we believe that caution in terms of investment should prevail,” said SBS Group.
For their part, the ADRs of Argentine companies operate with the majority of increases, which reach up to 4.6% (Edenor).
Bonds recover some ground and country risk falls
For its part, sovereign bonds in dollars, which had started the day lower, are now beginning to show increases of up to 7.2%by the Global 2038followed by the Bonar 2041 (+5.5%).
In this way, the country risk, which was on the rise and had exceeded 1,600 points this day, marks a slight drop of 10 units this Friday and stands at 1,580.
Source: Ambito
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