The local stock market operates with great increases after the Monday holiday in which it remained closed. In the previous day, ADRs advanced up to almost 9%.
The local stock market capitalizes on the enormous rise that the ADRs in Wall Streeta day when the local square was closed for the National Sovereignty Day holiday. Thus, the S&P Merval It advances 4.4% measured in pesos and in dollars it already exceeds 1,900 points.
On this day, the leading actions that you lead are YPF, with almost +7%, followed by BBVA bank (+5.8%) and Southern Gas Carrier (+5.4%).
For their part, the dollar bonds They fall for the second consecutive day. In this case, the casualties lead: Bonar 2041 (-2.8%), and the Global 2038 (-1.3%). The country risk, meanwhile, remains below 770 basis points. Last week sovereign debt rose 9%.
After another week with strong increases for the local market, Investors will focus on October wholesale price and construction cost datawhich will give new clues about the speed of the disinflation process. “No less important will be the October trade data on Wednesday, key to measuring the performance of the trade surplus,” Bell Bursátil explained.
On Friday, meanwhile, INDEC broadcasts the monthly economic activity estimator (EMAE) September, which should show a positive variation in the comparison compared to August.
President Javier Milei will have a busy agenda this Tuesday: he will hold a meeting with the president of China, Xi Jinping, in which the leaders are expected to analyze investment projects for Argentina and other globally relevant issues. He will then meet with the director of the IMF, Kristalina Georgievathe Prime Minister of India, Narendra Modi, and with Flavio Cattaneo, from the Italian company Enel.
Milei has just spoken at the Plenary of Heads of State and met with the head of the World Bank on the first day of the Rio de Janeiro Summit.
Juan Manuel Franco, Chief Economist of the SBS group, also agrees with the important “drives” for this week: “The short week in Argentina begins after a very firm rise in shares in New York on the local holiday Monday. As for data, Investors will look closely this week at wholesale inflation in October, as well as the dynamics of private deposits in dollars and the balance of the BCRA in the MULC. Another eye will be on politics, with activity in Deputies regarding the 2025 budget, the law that regulates the DNU and the DNU that would allow debt exchanges in local law dollars without meeting the requirements of the Financial Administration Law.
Source: Ambito
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