Argentine stocks operate with majority of casualties this Monday, December 30the last day of activity in the capital market in 2025 and they drive with them the S&P Merval index, which falls 1.2% up to 2,545,998.03. Profit taking is observed in the stock market, a typical movement for this time of year.
The stocks that lose the most in the leading panel are those of Cresud (-3.9%)Banco Macro (-2.5%) and Metrogas (-2.2%). Likewise, on Wall Street the ADRs that lose the most are those of Edenor (-3.6%), Cresud (-3.3%) and BBVA (-2.3%).
The poor performance of Cresud’s assets coincides with a critical situation in agricultureafter the firms Red Surcos, Agrofina SA and Los Grobo Agropecuaria declared default on their debt.
According to Facimex Research, the real income of the agricultural sector is at a 20-year low. The appreciated real exchange rate, withholdings and the decline in international prices are factors that explain this situation.
Bonds and country risk
Meanwhile, heBonds also operate in “red” and they fell up to 1.6%, led by the bonar AL41. They are followed by Global GD29 (-1.3%) and Global 2035 (-1%).
He country risk is located in the 627 basis pointswithout modifications, for now, compared to last Friday.
A report of GMA Capital He pointed out that during this year “if there was a strategy to stand out, it was that of carry trade; that is, investing in pesos, but seeking a return in dollars.”
Within this strategy, the best option was the TO26a fixed rate instrument with more than one year of duration. “As a bet on disinflation, it accumulated 176% in dollars. Thus, it was positioned as the only stock market asset that achieved returns above nominality (measured by the CER, which incorporated 45 days of increase in the CPI at the end of 2023). ),” the entity deepened.
In parallel, a UVA fixed term returned 131.5% in CCL dollar, while the return of the instruments at the Badlar (also measured at the CCL) was 42%.
GMA explained that this was not due to positive peso rates in real terms but due to the deep appreciation of the exchange rate.
Source: Ambito
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