The Buenos Aires Stock Exchange advanced 1.1% driven by shares of banks (country risk, below 600 points)

The Buenos Aires Stock Exchange advanced 1.1% driven by shares of banks (country risk, below 600 points)

Buenos Aires stock market traded up on Wednesday, after the banking holiday on Tuesday, before a slight fall in the global dollar after the Democrats won an important victory in the legislative elections in the United States.

This election result reduced expectations of a next large fiscal stimulus to the US economy, which should encourage emerging economies.

In turn, investors remained alert to the high level of renewal of letters 'Leliq' that the Central Bank will later face, with an estimated volume of $ 264,000 million pesos.

The Merval index advanced 0.9%, a 31,263 units, after falling 1.3% on Tuesday.

Among the actions that obtain the best results are those of French Bank (+ 4.1%); Grupo Financiero Valores (+ 3.8%) and Supervielle Group (+ 2.9%), while among those leading the biggest falls are those of Metrogas (-2.7%); Pampa Energy (-0.8%) and Transportadora de Gas del Sur (-0.1%).

It should be remembered that on Tuesday, in a day with ups and downs and small volume operated by the banking and exchange holiday, the Merval cut a streak of five consecutive increases, by yielding 1.4% to 30,973.55 units, with the focus on the US legislative elections.

After climbing up to 1.3% towards half a wheel, the leading panel went on to operate in negative territory due to the pressure exerted by the shares of the financial sector, due to the fall of its ADRs (they decreased to 2.7%), and of Petrobras Brasil (its third quarter balance was below the expectations), with investors continuing to monitor the tightening of the super rate versus the dollar.

Anyway, the Merval retracement deepened in the last hour of negotiations based on the bad data of the industrial activity corresponding to September (-11.5% year-on-year, more pessimistic than expected), disseminated by the INDEC.

Only $ 316.8 million in shares were traded, the worst amount traded so far this 2018. Recall that despite the banking holiday the Buenos Aires stock exchange had normal activity in the settlement periods of 24 and 48 hours, with the only limitation that the settlement of the day was not carried out.

• Bonds

In the fixed income segment, the main sovereign bonds (against pesos) operate this Wednesday with slight increases.

Among the most negotiated, the Bonar 2024 earns 0.3%; the 2020 Bonar also rises 0.3%; The Discount under Argentine law advances 0.2%; while the Bonar 2037 adds 0.4%.

Finally, the country risk, prepared by the bank JP.Morgan, It fell from eight percentage points to the area of ​​592 units, its lowest level since the end of September.

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