The Merval increases by 0.6% and accumulates its fourth consecutive rise

Buenos Aires Stock Exchange this Friday its fourth consecutive increase and increases by 0.6%. Yesterday was a volatile and highly selective, with investors mindful of the volatility of the exchange rate, and the bidding Letters for Lebac, taking advantage of the best outside climate.

The Merval index gained 0.4% limited until the end of the year. 27,813.17 units, with a reduced business figure, reaching barely 875 million dollars.

The main increases were recorded by Transportadora de Gas del Sur (+ 8%); and Loma Negra (+ 4.5%). On the other hand, Edenor led the losses with -6.8%. The two most traded papers were YPF (-0.2%) and Grupo Financiero Galicia (stable closed) with 24% of the total traded.

"Investors remained cautious when it came to taking a larger position in risky badets, as they expect news that could strongly mobilize the market, in a direction or in a other, "says an badyst. 19659002] At the local level, after the closing of the stock market, the result of Letes' offer was revealed: the government placed 422 million US dollars (70% of this amount was traded for Lebac) in coupons. Treasury at 379 days to maturity, at a record rate of 5.5%, the highest so far for this type of securities

On the external front, this Friday will reach the report on the Employment, which is of vital importance to know the Fed How will the pace of interest rate hikes be?

"The stock market has not changed much, although there is a consensus on very low values, especially in terms of dollars, badysts do not agree is a reason enough for the short term to start with the Merval to recover positions quickly.Among the major global brokers, the thing is related.Some recommend to enter it, others are pessimistic, "remarked the # 39, badyst Héctor Tavares.

He explained that on the one hand "there are liquidation prices, but on the other hand, the government does not take foot". of interest is incompatible with a growing economy. And the absence of a comprehensive and strategic plan casts doubt on the political future of the country from 2020. There are very exaggerated losses, where the cement plants take most of it ",

• Bonds

On the other hand, in the fixed income segment, the main dollar securities (quoted in pesos) resulted in generalized increases. and, in some cases, increased by more than 2%

., the Bonar 2024 rose 1%, the Bonar 2020 by 0.6%, the Reduction in Argentine right gained 2.1%, while the 100-year bond rose by 1.5%.

dollar-denominated bonds rose between US $ 0.50 and US $ 1.00 in the middle and long portion of the curve, while peso bonds seem to have found ground, according to a report of the SBS group.

For its part, the country risk, which measures JP Morgan, fell by 1.5% 581 basis points. [19659013] [ad_2]
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