Argentine stocks closed with strong gains this Thursday, June 27 on Wall Street, with a market that was at ratification in the Chamber of Deputies of the modifications to the Bases law and the fiscal package previously established in the Senate.
The other stocks that rose the most were Aluar (+8.1%), Ternium (+8%) and Southern Gas Transporter (+7%). As for companies listed abroad, they performed similarly, those that rose the most were Telecom (+8%), Southern Gas Carrier (+7.5%), and Central Port (+5.9%).
Why Argentine stocks are rising and in what context
Pablo LazzatiCEO of Insider Finance“This increase is due to the fact that it is imminent that it will come out the Basic Lawwhich would bring many benefits to companies in the area of hiring, labor rights, as well as The RIGI that helps large investments for more than US$200 million”.
“The sectors that will benefit the most from this law will be the area of forest industry, infrastructure, mining, energy, technology, tourism, steel, oil and gas“he added.
It should be noted that the Lower House had already approved the Bases law and a tax reform project at the end of April must ratify its approval following modifications made by the Senate two weeks ago.
“Although (the official proposal) suffered a significant pruning taking into account the original project, The ruling party would be able to approve a framework that allows it to implement the measures it considers necessary to rebuild the Argentine economy,” he said. Wise Capital.
Bonds and country risk
Meanwhile, in the fixed income segment dollar bonds ended up uneven. The falls reached up to 3.2%as in the case of Global 2041or the Bonar 2038 (-0.7%), on the other hand, those that rose the most were the Global 2029 (+0.8%), and the Global 2030 (+0.6%).
whereby The country risk measured by JPMorgan rose 2 units (1.1%) to 1,445 basis points.
“Global bonds are in a ‘stand by’ state, while the interest collection date approaches on July 9,” Delphos Investment recalled, noting that “the disbursement represents US$2.8 billion, of which US$1.5 billion corresponds to interest payments and the remainder to the amortization of bonds maturing in 2030.”
How stocks and bonds fared in June
The leading actions They will close the month in a mixed way, of which 5 would beat inflation: Silver Commercial Society (+18.4%), Mirgor (+11.7%), Transener (+8.6%), Bank of Securities (+7%), and Southern Gas Carrier (+6.2%). The S&P Merval It fell 0.9% in the month and, measured in dollars, it fell 8.1%.
As far as the bonusesthe biggest declines of the month were for the Global 2041 (-5.9%), the Bonar 2038 (-5.2%), the Bonar 2035 (-3.3%), and the Global 2029 (-3.3%). The CER debt would end unevenly, while the dollar linked They register increases of up to 2.5%.
Source: Ambito
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