2024-01-31 23:51:39
The local stock market had a very good performance in January, both in pesos and dollars, which once once more placed stocks among the best investments of the month.
Argentine News
During the second month of Javier Milei’s government, the S&P Merval showed a rise of more than 35% in pesos, a profit that was well above inflation and, measured in dollars, it returned to the level of US$1,000 with an increase of 5.6%. This happened in parallel to the first economic measures of the new national administration which included the treatment of Omnibus Lawstill under debate in the National Congress.
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Thus, the S&P Merval advanced in January 35.6% up to 1,260,562.62 points. While, measured in Dollars, rose 5.7% to US$1,009.56. Inside of the leader panellas biggest rises were for the banking sector: Galicia Financial Group (+64%), Banco Macro (+60%), BBVA Bank (+45,3%) y Banco Supervielle (45.1%). After them, they also advanced strongly: Mirgor (+44,1%), Telecom (+43,2%), y Cablevision (+38,8%).
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Despite the rise in the financial dollar, which appreciated 28% during January, the truth is that 14 shares of the 21 that make up Merval beat the advance of the cable dollar. “In line with what the last few months were like following the runoff, the market showed a new shock of confidence for the ruling administrationwhich has already taken its first adjustment measures and is currently facing its first major challenge in the Legislative Chambers,” he said. Maximiliano DonzelliHead of Research de IOL invertironline.
When asked regarding, Why is the S&P Merval rising? Alejandro Bianchifounder of Investment advisorhe told Scope: “What is happening is that the banks specifically, that within the Merval index it has a very important weighting, They are recovering the values they had in 2019 in the run-up to the PASO. This also generates an increase in the assets of banks that have strong exposures in the public sectors.”
And, regarding his view with the other sectors, he said: “The energetic were a little late this month product of a drop in oil for much of January but rebounded in the last week. Likewise, this sector had previously risen too much and that is why it was not so much the energy companies as the banks that were the drivers of the local market.”
Strong volume in the general panel: what were the jewels of the month
In his report this month, Tavelli stressed that “following the rises of the leading Panel last month, the flow of money largely rotated to the General Panelwhat scored several members in the top ten“. Thus, among the main rises, the star was undoubtedly Boldta company dedicated to providing data processing services and information technology (IT) solutions, which It climbed no more and no less than 304.5% in just one month.
Other important increases in the Panel General leave the recording sundaywhich is dedicated to the manufacture of gas stoves, with an advance of 186,7%behind her he stood Polledoa construction company, which rose 160%y Carboclorthe only local producer of octane boosters, which made a profit of 147%. They complete the biggest promotions: GCDI (+116,2%), Oath Investor (+109,5%) y Camuzzi Gas Pampeana (+103,3%).
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