The leading index S&P Merval goes up 1.9%, to 1,574,720.33 units, led by the improvement in financial and energy stocks, after falling 2% the day before and soaring 3.8% on Monday.
The shares of the leading panel are trading with increases of up to 3.5%, led by Supervielle Bankfollowed by YPF (+3.2%), Galicia Group (+2.7%) and BBVA (+2.6%). The only one that goes down is Ternium (-0.9%).
The market expectation regarding the law Bases
We have to “look beyond the Bases law, which will surely come out, but it is a short-term driver,” he said. Cristian Lopez of Personal Investments portfolio. And he explains that what we have to follow are “the ‘fundamentals’ that can tell us that everything can really change in the long term, after so many years of decline.”
In the midst of thousands of demonstrators protesting against the bill, the debate in the Senate promises a very even vote, since the ruling party has few legislators in the Upper House and has not managed to convince the majority about the benefits of the reforms.
ADRs and bonds
The Argentine bonds They are trading higher this Wednesday in a context of expectations regarding the Bases law. That makes the risk country by 25 points (-1.6%), up to 1,500 units. The public securities that rise the most are Global 2035 (GD35), which climbs 2.1%, followed by the Bonar 2038 (AL38), which recovers 2%, the Global 2030 (GD30), which climbs 1.8%, and the Global 2041 (GD41), which climbs 1.8%.
Meanwhile, Argentine stocks listed on Wall Street they climb up to 9%, led by Supervielle Groupfollowed by Macro Bank (+7.7%), Financial group Galicia (+7.3%), BBVA (+6.2%), and YPF (+4.8%).
Source: Ambito
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