Investments in June: which were the only five stocks that beat inflation

So much Dollar bonds, like leading stocks, ended June with a majority of declines. It was a month in which the debate over the Bases law set the agenda. Contrary to stock market assets, Parallel exchange rates had an upward rally.

“The local stock market index settled around 1,611,000 points and left a negative balance of 2 percentage points in the month of June. In dollars it closed around $1,193 and with a loss of 9% for the month. However, Merval ended the first semester with a profit of more than 24% in dollars“he explained Mauro NatalucciRava account executive.

Stocks and ADRs: How they fared in June

The leading stocks They closed the month in a mixed way, of which only 5 beat inflation: Commercial Society of the Silver (+18%), Mirgor (+10.7%), Transener (+6.8%), Stock Bank (+6.7%), and Southern Gas Carrier (+5.4%). The biggest losses were for BBVA Bank (-11 and Telecom (-9.3%).

He S&P Merval fell by 2.4% in the month and, measured in dollars, fell by 9.8%.

Regarding Argentine companies listed abroad the biggest declines of the month were for IRSA (-22.4%), BBVA Bank (-18.1%), and Telecom (-17.5%). The only one that went up was Globant (+10.6%).

Bonds and country risk: how they did in June

Country risk continued its upward trend this month, reaching over 1,440 points, although it also exceeded 1,500 during the month. “The CER bonds showed minor decreases in almost all series, given that the reduction in inflation exceeded expectations. UvPs had a mostly positive behavior in the hard currency series,” Tavelli explained.

In regards to the dollar bondsthe biggest declines of the month were for the Global 2041 (-8.2%), the Bonar 2038 (-6.8%), the Bonar 2041 (-6.6%), and the Global 2038 (-5.9%). The CER debt ended unevenly, the biggest increase was for the TZX26 (+3.4%), and the largest drop was for the TX28 (-3%), while the dollar linked registered increases of up to +3.6%, by the T2VA.

Blue dollar vs. Other assets: what can we expect in July

He Dolar blue It rose to $1,335 for purchase and $1,365 for sale this Friday, June 28. Based on this increase, the gap with the official figure stood at 49.7%. In June, the informal dollar accumulated an increase of $140 (+11.4%). Let us remember that, in May, this exchange rate had already climbed $185 (+17.8%), after three months with slight oscillations.

The dollar CCL closed at $1,350.18, so the gap rose to 48.1%, a record since February 8. He MEPfor its part, ended the month at $1,347.96. In this case, the spread with the wholesaler was positioned at 47.8%. With these upward adjustments, both prices recorded new nominal records. Likewise, The CCL accumulated a jump of 7.7% in June ($96.69) and the MEP had an advance of 11.3% ($136.26).

“So far this month, both blue like MEP They are with increases close to 10% although so far this year of the alternative FX the one that has risen the most is the CCL approximately 38%. With that monthly performance it would be well above the inflation forecast by the REM for June of 5.5% while so far this year inflation would be accumulating around 80%“, he told Ambit, Andrés Reschini from F2 Financial Solutions in the run-up to the market closing.

“We go into July with several doubts about the sustainability of the ‘crawling peg’ and the future of the reserves. The stocks seem to be an already exhausted resource because it hinders the accumulation of reserves and activity. It will then depend on the next steps taken by the Government. If he manages to convince the market, we will probably see better returns on sovereign debt and local stocks. but if the weather gets worse we will see a more cautious market trying to cover itself and the gap tightening“, hill.