The financial market begins a week trading higher with energy stocks leading increases of up to almost 7% in Wall Streetthe same day that the Government made official increases in gas and electricity rates for November in the official bulletin and awaiting the balance sheets. Meanwhile, there is expectation for this Tuesday’s big event for the elections in the United States, an event that analysts and financial gurus are watching closely.
“The truth is that I believe that the Argentine market has a lot to go up, the banks were doing it first, now it’s up to the energy companiesthat there is still room to adjust, and then it will be up to other roles, including many of the general panel,” the analyst told this medium. Leonardo Svirsky.
This Monday it was learned that the Government ordered increases in service rates electricity and gas starting in November.The increases include 2.5% in electricity rates and 2.7% in natural gas rates for networks in the final ballot.
In addition, the energy companies will present their balance sheet this week. Today it will be the turn of Transportadora de Gas del Sur, on Tuesday of Central Puerto, on Wednesday of Pampa Energía and Edenor and on Friday of YPF.
In this framework, the ADRs that rise the most are: Edenor (+6.9%), Pampa Energy (+4.2%) and YPF (+3.5%).
How Stocks and Bonds Fared in October
Argentine stocks and dollar bonds capped a brilliant October with monthly profits of up to 33%, while The country risk fell sharply (-23%) below 1,000 basis points, to reach its lowest level in five years. It was in the midst of the influx of fresh funds thanks to millionaire money laundering, purchases by the Central Bank, the continuity of the fiscal surplus, the slowdown in inflation, and monetary support from international organizations.
In that framework, the S&P Merval rose 7.9% in pesos during October, to 1,848,744.26 points, but measured in dollars (CCL) it jumped 17%, ending in 1,593.33 points. Thus, the main increases in pesos during the month were for BBVA Bank (+23.9%), Edenor (+21.5%), and Supervielle Group (+18.8%).
For their part, the shares listed on Wall Street stood out: BBVA rose 32.8%, Edenor, 31.3%and Supervielle Group, 28.1%.
As for the country risk, the index that measures the JP Morgan hill the month below 1,000 basis points. In this context, dollar bonds rose strongly during the month. The largest gains were led by the Bonar 2041 (+17.3%), the Bonar 2035 (+16.6%), and the Bonar 2038 (+16%).
The country risk rose 28 units this Thursday to 984 basis pointsjust two days after having pierced downwards the line of 900 points as the best of the indicator since mid-2019. Throughout October, it lost 23.7% or 306 units.
News in development.-
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
