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ADRs retreat after shooting and bonds rise again at the end of a hectic week

ADRs retreat after shooting and bonds rise again at the end of a hectic week
ADRs retreat after shooting and bonds rise again at the end of a hectic week

The rises in dollar-nominated bonds are headed by Global 2029 (+3.1%); the Global 2046 (+2.4%); and Bonar 2035 (+1.4%). It is worth remembering that on Thursday sovereign securities had climbed up to 4.5%.

In this frame, The country risk rises slightly (5 units) to 1,426 basis points, after touching 1,382 points on Thursday, a minimum of almost two months.

Regarding titles in pesos, those adjusted by CER operate with disparity, one day after it was known that May inflation slowed to 4.2%, the lowest level since the beginning of 2022. Among the increases, it stands out the DIP0 (+2.8%), while among the most important declines is the PARP (-2.3%).

S&P Merval and Argentine stocks on Wall Street

In the stock market, Friday’s session is trading lower due to selective profit-taking amid recent positive political and economic outcomes that support the Government’s direction.

Thus, the leading index of Argentine Stock Exchanges and Markets (BYMA), the S&P Merval, cuts 1.3%, so for the shares of the Leader Panel it is a day that is more red than green, after adding 2.4% in the previous session. Operators agree that the stock market continues to operate on a solid basis, so a session with ups and downs cannot be ruled out.

In this context, the declines are led by Southern Gas Carrier (-2.8%); IRSA (-2.7%); Black Hill (-2.5%) and Supervielle (-2.5%). The increases, meanwhile, are for Stock Bank (+1.3%) and Mirgor (+1.1%).

“The approval of the basic law and the fiscal package in the upper house generated positive responses in the Argentine market,” said clearing and settlement agent Puente, noting that “this was reinforced by the May inflation data.”

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On the New York Stock Exchange (NYSE), the negative trend takes over the Argentine securities listed there, with only three slight increases for Pampa Energy (+0.3%); Macro Bank (+0.1%); and Telecom Argentina (+0.1%).

The casualties, for their part, are led by Take off (-5.9%), BBVA bank (-2.9%); and Southern Gas Carrier (-2.4%).

The day before, the Upper House of Congress approved a package of liberal reforms, which gives a signal of governability to the markets.

Besides, the renewal of a currency swap for about $5 billion and the approval of the International Monetary Fund (IMF) to the review of goals for the southern country that allows a disbursement of 800 million dollars, endorse the good mood of the markets.

Source: Ambito

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