Also conditioned by the drop in the CCL dollar, the referential S&P Merval de BYMA it fell 1.6%, to 199,360.66 points, due to profit taking. A) Yes, accumulated a rise of more than 23% in 10 consecutive days. While measured in dollar CCL, it came to close to 600 points on the day, the highest since August 2019.
The day’s falls were led by shares of Cresud (-4.7%); Central Harbor (-3.4%); and Mirgor (-3.1%).
“The S&P Merval reached a historic value of 200,000 points in local currency, after 10 days on the rise, accumulating 23.3% in this short period”, commented from Cohen Aliados Financieros. “Anyway, measured in (the ‘settled spot’ exchange rate) ‘CCL’ is still just under 70% below the all-time high achieved at the start of 2018,” they added.
The stock market accumulates a firm rise of 135% in pesos in the year, with yields converted to around 40% in dollars and thus stands out in the global financial system.
On Wall Street, meanwhile, the Argentine shares closed mixed. Advances were led by bank papers Take off (+3.2%); Free Market (+3.2%); and Transportadora de Gas del Sur (+3%). On the side of declines, the assets of Central Puerto appeared (-1.8%); Black Hill (-1.7%); and Banco Macro (-1.4%).
In the US, the day began with the publication of jobless claims that were in line with expectations, without generating surprises for analysts, highlighting the resistance of the labor market to the Fed’s monetary policies, and improving investor sentiment.
In this context, and although it was another round of low volume, the S&P500 managed to resume the upward path, ending the day with a rise of 1.7%, while the Nasdaq did so by 2.6%, driven by Tesla. , Apple, Amazon and Microsoft.
In addition, the 10-year bond rate fell 5 bps to 3.84%, while WTI oil lost 0.5% to $78.53 per barrel.
Bonds and country risk
In the fixed income segment, on the other hand, dollar bonds showed most falls. Bonar 2029 fell 5.6%; the Global 2029 fell 3.9%, while the Global 2046 yielded 2.7%, among the main setbacks of the day.
For his part, he Argentine country risk of JP.Morgan recorded a slight increase of 0.2%, to 2,162 units.
In the peso segment, dollar-linked sovereign bonds operated as takers at both ends of the curve, with increases of an average of 0.3%. Meanwhile, the duals yielded an average 0.3% for all their maturities.
Regarding the CER segment, the short end of the curve rose 0.6% while the rest of the maturities fell 0.7% on average.
The Ministry of Economy captured 326,610 million effective pesos on Wednesday (about 1,852 million dollars) in Treasury bills with 1,426 offers received, to finish its auction plan in the year with the total renewal of maturities.