Tuesday , April 20 2021

Merval recovered and Argentine stocks rose more than 8% on Wall Street



Stock market

The shares of domestic companies performed well in New York at the same time that the Merval index rebounded after four days of decline

The Argentine stock market closed on Wednesday, with a Merval index that rose 2.9%, after falling for four consecutive wheels.

The positive turnaround was driven by interest in financial and energy sector actions.

The increases were from Pampa Energía, which earned 6.33%; Supervielle Bank that did it in 4.95%; Banco Macro gained 4.76%; Grupo Financiero Galicia 4.59%) and Transportadora de Gas del Norte advanced 4.52%.

Dollar bonds traded without a defined trend, but with higher demand in the long segment. There were declines of up to 0.3% for Bonar 2046 (AA46), but up 0.8% in Discount (DICA).

On the other hand, bonds issued in local currency, both those indexed by CER and Badlar, culminated between neutral and negative bonds of up to 1.7% of Boncer 2021 (TC21).
"After four downward sessions came the technical recovery for the local market, which again operated against the reference markets," said analyst Rava Bursátil, by Eduardo Fernandez, who said that "while the major stock indexes in the United States registered low". average of 0.40%, the Merval which ended with a gain of almost 3%. "

"The only negative point was the amount invested in private papers, which remains at very low levels," concluded Fernandez.

Merval's main stock index in Buenos Aires rose 2.9 percent, to close 29,372.54 units, after accumulating a loss of more than 9.0% in the four previous business sessions.

In the international arena, there have been significant increases among local business ADRs on Wall Street. The performance of Banco Galicia stood out, with an increase of 8.3%. Nearby were Banco Macro (7.9%) and Pampa Energía (6.8%).

Among the papers that registered falls in New York were IRSA (-1.8%), Ternium (-1.1%) and Corporación América (-1.3%).

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