2023-05-30 22:28:39
The porter bag Brake this tuesday may 30 a bullish streak of seven consecutive gains. as long as two leading panel stocks soared more than 15%. This happened while the market was getting the first news regarding the visit to China by the Minister of Economy, Sergio Massa.
The S&P Merval stock index fell 0.9%, to a close of 343,391.86 units. Thus, the shares that fell the most were Cresud (-4.4%), Loma Negra (-4.4%), and Transportadora Gas del Norte (-3%). in the main pane – where non-leading and less liquid companies are listed –the papers of San Miguel (+17.6%), and Havanna (+15.8%) stood out.
In the case of Havanathe food producing company recognized for its alfajores, added its second day with a strong rise. On Monday it rose with 15.7%, and this Tuesday it climbed another 15.8%. It should be noted that this type of asset operates with little volume so it usually has high volatility.
market sources consulted by Scope They did not find a specific cause behind the strong rise in the last two days and assured that it might be “hardened” by investor tables. The truth is Havana presented a good balance in the first days of May.
One operator, however, linked the rise to a possible commercial opening of the company in the Chinese market, precisely within the framework of the trip of the Minister of Economy, Sergio Massa, to that country. He also warned that Havanna it might issue new shares which might eventually lower its price.
As regards Argentine shares listed abroad, the ADRs ended with mixed variations. While Central Puerto was at the top with a 5.1% growth, Despegar led the decline with a 3% decrease.
Bonds and country risk
In the fixed income segment, dollar-denominated bonds closed mixed. Thus the main casualties were for Bonar 2035 (-0.9%), Bonar 2038 (-0.4%), and Bonar 2030 (-0.3%). The increases, meanwhile, were led by the Global 2041 (+2.6%), the Global 2035 (+1.2%), and the Bonar 2041 (+1.1%).
“Dollar bonds returned to operation following several days of little to no activity, showing themselves to be takers from the beginning, to close with average increases of 30 cents. Global 2030 stood out, climbing regarding 65 centsthus accumulating an increase of 9% in the month,” said Grupo SBS in its market closing report.
For his part, he JP.Morgan’s country risk fell 1.1% to 2,555 basis points.
Regarding the debt in pesos, The dollar-linked closed unevenly but on the rise at both ends of the curve (+0.7%) and offered in the middle tranche (-0.7%), and concentrated the volume in Q2V3.
The duals, meanwhile, closed with average increases of 0.5%, with the exception of the TDS23, which fell 0.6%. Finally, the CER segment rose 0.3% in the short leg and 1% in the long leg of the curve, highlighting the Q4X4 which climbed 1.5%.
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