Thursday, December 9

S&P Merval Rally: climbed 9% on seven wheels and set a new record in pesos

The stock market posted a historical maximum hourly level of 84,402.48 units, and surpassed the 83,923.24 points scored after the defeat of the Government in the primary elections last month.

The advances of the day were led by the shares of Pampa Energía (+ 4.7%); Transener (+ 3.7%); and Grupo Financiero Valores (+ 3.4%). Meanwhile, the only two setbacks of the day were for Cablevisión papers (-0.2%); and Loma Negra (-0.2%).

The stock market company Allaria Ledesma announced that it raised the recommendation on the Pampa Energía from ‘keep’ to ‘buy’, in line with the new goal for the end of 2022 of 285 pesos per share. This Tuesday, it was trading around $ 160 per share.

He also increased the line for Cresud, from ‘hold’ to ‘buy, with a renewed price for December next year of 177 pesos for each title. It is the day, the signature agriculture fell 1.6% to $ 109.

In the fixed income segment, dollar-denominated bonds they ended up with a majority of losses in the local stock market, with Global 2041 (-4.8%) at the top of the losses. Among the Bonares, some demand appeared in 2035 (+ 1.2%); and in 2029 (+ 0.1%).

Faced with this, the Argentine Country Risk it rose slightly to 1,647 points, near its highest level since the debt swap sealed in August 2020.

Among the bonds in pesos, on the other hand, those adjustable by CER rebounded and Gained up to 1.2% (Pair), after last week it was known that inflation accelerated to 3.5% in September, a figure above market expectations.

On the other hand, dollar linked securities closed with falls, in some cases of up to 0.6%.