Monday , January 18 2021

S & P Merval advanced 1% powered by energy companies (climbed up to 6.2%)



The leading index S & P Merval de Bolsas and Mercados Argentinos (BYMA) advanced 1% and again exceeded 37,000 points (closed at 37,023.74 units), again based on its historical maximum value of 37,562.08 units, registered on February 6.

The papers off Pampa Energy led the progress of a leap 6.2%. It was also the second best share of the day ($ 64.3 million) after Grupo Financiero Galicia ($ 98.4 million).

The podium was performed by the actions from Transportadora de Gas del Sur (+ 5.1%); and Central Puerto (+ 3.7%).

Pampa's assets were "quiet" for some time and had not accompanied the rest of the actions of the senior panel in January. "The latest news on the farm shows gas production record", he said ambito.com Rafael Di Giorno, Director of Proficio Investment. With the increase in this Monday, PAMP is the most winning in February (+ 10.7%), while this year an increase of 26% (it is already the fifth highest in 2019).

Central PuertoFor that matter, the only companies with financing and "encouragement" from the owners to the face and winning bids for more megawatts are explaining on the market.

"For Ensenada de Barragán Thermal Power Plant, CEPU offered US $ 280 million and for Brigadier López Thermoelectric Power Plant for US $ 165 million." There is a context where the investment in energy is very focused on Vaca Muerta and there are not so many companies backed up to offer more capacity, investors believe CEPU will win these bids "explained Di Giorno.

Among the major setbacks, in turn, appeared the oil company's roles in view of the fall in international oil prices (He was balanced by the uncertainty about the outcome of the negotiations between China and the United States, whose failure causes fear of greater adversity in demand). thus, the fall in Petrobras Brazil (-1.6%) stood out; Aluar (-1.3%); and YPF (-1.2%).

The rise of the local stock exchange arose in a climate of greater selectivity and low turnover (decreased 18% to $ 487 million), in view of the fact that, according to the operators, there is a larger "wait and see" as the upswing at the beginning of the year was too dizzying. There were 56 hikes, 25 losses and 10 shares without changes today.

"The local stock market continues to wander without being able to define its development, and again the development of the wheel was a small business environment", described an analyst. Another meanwhile explained the reasons for the weakness shown by the local market during the round: "The effects of the expiration of options are listed. "

Fixed income and country risk

In the interest rate segment, on the other hand, the most important bonds are denominated in pesos, denominated in dollars. They closed with most winnings in a very volatile wheel at the wholesale price (it was going to jump to $ 38.60 midmorning, but then lost that strength and closed to $ 37.91, today's low, however, 6 cents over Friday's closing).

Bonar 2024 received 0.5%; 2020 Bonar, 0.1%, like Daccording to Argentine lawa. Bonar 2037 led the climbs, with a jump of 1.4%.

On the other hand, the dollar-denominated securities quoted in currencies ended with a majority of the losses, emphasizing a fall in the half-year bond (-1.1%).

On the other hand Lecaps was operating at between 34 and 35%, while the Leliqs auction showed an average rate of 45.15% (-110 bps).

Within this framework, the Argentinian country risk, which measures JP Morgan, is rose six units to 680 basis points, 0.7%.

And the 5 year CDS (insurance against default) closed 645 points after operating below 600 units at the beginning of the month.


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