Investment apathy: the Merval rose 0.3% with a sharp drop in volume

In a climate of general apathy and with lesser participation of institutional investors, the Merval Index Argentine Stock Exchange (BYMA) advanced this Monday by 0.3% to 27,703.74 units , so he reaped his second consecutive rise, albeit with much less volume than the previous day.

The gains for the day were led by the papers of Cablevisión (+ 5.8%); Aluar (+ 4.5%); and Transportadora de Gas del Norte (+ 3.3%). Similarly, the largest losses were recorded by Loma Negra (-3.6%); Edenor (-2.6%); and Banco Macro (-1.7%).

The sharp fall of the cement business occurred after a complaint was filed against it by shareholders who participated in the IPO last November. According to these investors, Loma Negra hid sensitive information about a slowdown in the local economy and its possible impact on construction activity. On Wall Street, its ADR lost 3%

In this context, the amount traded in shares dropped 33% to 437.6 million dollars. "It is necessary that the Merval exceeds the critical level of 28,500, and do it with a strong expansion of the negotiated base.In the short term, it is like the market would also need a driver to go out and confirm. it reaches, so we will have to wait and see if the balance sheets of the second quarter of 2018 can wake the market from this long lethargy, " reported a report from Rava.

As for Personal Portfolio, they explained that volatility will remain high in the short term, in a context where uncertainty about the real impact of the crisis on the economy in terms of magnitude and duration is still debated, and some doubts about exchange rate policies in some sectors.

• Bonds

In the fixed income segment, the main dollar securities (quoted in pesos) closed the generalized declines.

For example, Bonar 2018 lost 1.2%, reduction with Argentinean law 0.9%, Bonar 2024 0.4%, and Bonar 2020 a slight 0.1%.

Among bonds in pesos, continued the demand for adjustable debt for inflation: the Cuasipar gained 0.2%, the Boncer 2021, 0.1%.

On the other hand, the country risk, measured by the bank JP Morgan, has stabilized around 574 units.