Dollar bonds seem to recapture investor optimism and mark another positive day at the opening of the US market.
The ADRs advance on Wall Street, with YPF leading the way up to 3.1%, while the local stock market advances more timidly in pesos but measured in dollars it exceeds 2,100 points. The bonuses in dollars that were trading in green at the opening, fall mainly in the local market.
Thus, the S&P Merval It rises 0.8% to 2,246,912.57 points, in pesos, while in dollars it advances 1.1% to 2,101.08 units. The leading stocks that rise the most are: Metrogas (+2.7%), Cablevision (+1.6%), and YPF (+1.5%). On Wall Street, those that rise the most are: YPF (+3.1%), Supervielle Group (+3%), and Galicia Financial Group (+23%).
“After a week of flirting with the correction, the main Argentine stock index redoubled its bet and approached its maximums again. Specifically, on Monday it reached US$2,086. Let us remember that US$2,090 is the level highest, in constant terms, since February 22, 2018,” they expressed from PPI.
As for the bonuses in dollars, although they started the day in green in the foreign market, when the local stock market opened the trend was reversed and they were trading mostly negative, thus the main declines are: Bonar 2041 (-0.5%), the Global 2041 (-0.4%) and the Bonar 2030 (-0.4%).
“Let us remember that, prior to the slight rebound that they had on Friday at the end of the wheel (+0.65%), December had started relatively bearish. As we highlighted on different occasions, This correction occurred after the Globals exhibited very positive returns in recent monthsso a pause in the rally seems logical to us,” they added from PPI.
Source: Ambito
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