The Argentine stock market rose this Friday at the close of business, based on a new recomposition of portfolios and leading comfortably as the best investment of 2022 to give the excess pesos an escape route.
Markets: the Argentine stock market took profits after ten consecutive rises
The S&P Merval lost 1.6% to 199,360 points, after setting a new nominal record in the morning. In 2022, the leading panel records an increase of 139%, above inflation
The referential index S&P Merval from the Buenos Aires Stock Exchange won a 1.4%, to 202,085 points, after scoring his intraday record at 205,953.37 units in the previous session. The stock market accumulated a strong rise of 142% in the year and with returns of around 43% in dollars, which made it stand out in the global financial system.
Global bonds -in dollars with foreign law- subtracted a strong 1.3% on average on Wall Street, with a risk country of JP Morgan that raised 49 integers for Argentina, in the 2,213 points basic.
Financial day: the Stock Market rose again and the index of the leading shares gained 140% in 2022
The S&P Merval gained 3.6% and broke the 200,000 point line for the first time. The free dollar closed at $357, in its fifth straight rise. The stock dollars also marked record prices. The BCRA bought USD 239 million, the highest balance in three months
For the stock markets, a better global context was observed after the publication of jobless claims in the US, which were in line with what was expected by the consensus, highlighting the resistance of the labor market to the monetary policies of the US Federal Reserve (Fed).
The Ministry of Economy announced that next week it will carry out a voluntary exchange of eight Treasury titles in pesos that expire in the first quarter of 2023, with the aim of decompressing maturities and facilitating future tenders.
Financial day: the free dollar fell 7 pesos and the liquidation of soybeans has already exceeded the official goal
The currency snapped a string of five consecutive gains and closed at $350. The soybean dollar 2 already contributed USD 3,036 million in the month. The BCRA won USD 539 million in the market. The Buenos Aires Stock Exchange took profits and ended a positive streak of ten rounds in a row
According to private companies, commitments with the private sector during the first quarter of 2023 amount to almost $2.7 trillion – about $924,000 million expire in January; in February, $834,000 million, and in March, about $933,000 million. If the maturities of securities in the hands of the public sector are added, the maturities amount to $4.2 trillion, which are the ones that would effectively be exchanged.
“It is always important to take into account the objective and profile of the saver, since if it were someone who weighs more the dollarized value of their capital, taking shelter in a possible scenario of political-financial turbulence may also be a prudent option. Here it is interesting to note that, removing the dynamics of the last 30 days, throughout the year the free dollars have had some stability in recent times, which is usually a good sign to take a position,” he explained. brian torchiaManager of Corporate Finance at PGK Consultores.
“To give context to this point, the MEP dollar rose approximately 66% in 2022 on the eve of closing the year with inflation above 90%. In summary, both options can be attractive, the important thing for the retailer is to be able to clarify objectives and risks to assume that allow them to make the best decision based on their preferences”, added Brian Torchia.
According to the consultant Ferreres & Associates, investment increased 9.4% year-on-year in November, to USD 9,178 million. In turn, the series without seasonality is located with a month left to close the year at a lower level than the one it showed during the second quarter, and in November it registered a monthly increase of 2.5%. In this sense, in the first eleven months of 2022 it accumulated a growth of 14.6% when compared to the same period of the previous year.
On the other hand, according to resolution 2393/2022, the enacom (National Communications Entity) authorized service provider companies to apply as of February an increase in the value of retail prices of any of their plans in postpaid and mixed modalities of up to 9.8%, and a new increase as of April up to 7.8 percent.
Keep reading:
