Despite the traditional fixed term is offering an income below 7% monthly inflation, the same can be found in the market investments in pesos that generate profits of up to 17% so far in April.
This is the case of leading shares, which have great liquidity and volume of operations.
Specifically, the actions of bbva bank listed in the Merval index of leading companies head the list of the largest increases in the prices of these stock assets in the first fortnight of the month, with a rise of 17%, closely followed by Transene y Transportadora de Gas del Norte (TGN).
Even, also the ADR of BBVA listed on Wall Street adds in this short period of the month an increase of almost 20% in dollars.
Therefore, they offer an increase in its value superior to what the fixed terms offer and also to what the price of the dollar increased in the first two weeks of April, since in the formal segment there was a cumulative displacement of 3% and in the informal segment it barely rose 1.5% in the same period, even though it touched a record reference of $400.
In this way, various leading actions of the Merval of Buenos Aires are outperforming inflation, dollar and interest rate in April. In fact, this stock index is rising a cumulative 10% in pesos throughout the month.
Causes of stock price hikes
Las causes that lead to these very interesting increases in the Argentine actions are variedand to a large extent they are supported by lagging prices in their quotes and growing sectors.
Argentine stocks in various sectors have the potential to rise given a change in the political scenario due to the elections.
“The BBVA share was a little behind compared to the other listing banks (Galicia and Macro), but it has a good performance. Beyond that the banks themselves are very volatile, highly correlated with the performance of sovereign bonds”, the market analyst details to iProfessional Marcelo Pretty.
And he adds: “Equally, the BBVA continues to be below its maximum price it reached on March 8, when the markets began to fall.
In it agrees Paul Repettohead of Research at Aurum, who clarifies that, from what is seen in the values, “they are adjustments because several shares were somewhat delayed in their listing, especially BBVA”.
by the side of Transenefairly considers that “He has been recovering well, but he is still below the maximum which reached at the end of January, because it then held and fell sharply since March 8, but peaked at $254 and today sits at around $230.”
Regarding Transener and TGN, for Carlos Fernandez Berissovice president of Grupo IEB, the increase in both is because “a lot of the portfolio is positioning the Vaca Muerta boom and in the next national administration. Between the number of barrels that can be generated in 2024 and 2025, added to the potential to export gas to the region, production is growing due to the investments made,” he told iProfessional.
Meanwhile, Repetto considers that the increases in TGN y Transener they have more to do with a question of tariffs and greater own generation of energy.
Argentine companies with shares related to energy and exports present an upward trend in their prices.
Can these shares continue to rise in price?
For the analysts surveyed, when investing, the Argentine shares have the potential to continue rising of price for being delayed compared to the quotations of companies from other countries. In turn, assets linked to certain sectors, such as companies engaged in the exploitation of hydrocarbons and/or electricity production, have the possibility of continuing their growth.
“If you want to bet on the oil and gas sector, clearly companies like TGN and Transener will benefit and have more upside ahead. Obviously, it is tied to the country’s macroeconomics and how it is resolved after the elections”mentions Fernández Berisso.
For Repetto, before TGN, “We see Transportadora de Gas del Sur (TGS) betterbecause it has better adjustment and productivity”.
Finally, Quite maintains that TGN and Transener have room to recover what they lost since Januaryalso “they are in two sectors in which there are expectations that the next government will change energy policy, with a more friendly for investments”.
On the banking side, this expert affirms that “BBVA has almost recovered its level and is at its maximum, although in general the banking sector is lagging behind” and could continue to rise in a favorable political and economic context.-
