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S&P Merval Index Reaches New Highs with Argentine Companies’ Positive Results

The S&P Merval index rose 0.89% today, adding its fifth consecutive session with a positive result and registering a new all-time high in pesos, settling at 313,281.43 points.

With the same trend, the shares of Argentine companies (ADRs) listed in New York closed with increases of up to 4%.

In the leading panel, the highest gains were recorded by Mirgor (5.81%); Transportadora Gas del Sur (4.91%); Securities Financial Group (4.41%); Galicia Financial Group (4.01%); and BBVA Argentina (3.68%).

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The losses corresponded to Ternium (-3.86%); Cresud (-2%); Telecom Argentina (-1.79%); Aluar (-0.98%); and Central Puerto (-0.66%).

On Wall Street, the shares of Argentine firms closed the day with the majority of positive results, led by Transportadora Gas del Sur (4%); BBVA Argentina (3.4%); Galicia Financial Group (3.2%); Pampa Energía (3.1%); and Take off (2.2%).

For its part, the losses were recorded by Irsa (-2.9%); Cresud (-2.5%); Ternium (-2.4%); Central Port (-1.4%); Tenaris (-1.3%).

In the fixed-income segment, bonds in dollars ended practically unchanged, while bonds in pesos adjusted for CER closed with gains of an average of 0.6%.

Within this framework, the country risk ended with an increase of 0.6% at 2,523 basis points.

Regarding the foreign exchange market, the retail dollar closed at an average of $239.42, with a decrease of 17 cents compared to yesterday.

For its part, the so-called “blue” or informal dollar operated with an increase of three pesos, to $475 per unit.

Meanwhile, in the stock segment, the cash dollar with settlement (CCL) advanced 0.6%, to $453.96; while the MEP increased 0.7%, to $435.43.

In the wholesale market, the US currency ended with an increase of 50 cents compared to the previous close, at an average of $229.

Thus, the dollar with the 30% surcharge -contemplated in the COUNTRY tax-, marked an average of $311.25 per unit, and with the advance on account of the Income Tax of 35% on the purchase of foreign currency, to $395 .04.

Meanwhile, the dollar destined for tourism abroad -and which has a rate of 45%- was located at $418.98, while for purchases over 300 dollars -and which has an additional tax of 25%-, located at $478.84.

With information from Telam

2023-05-11 22:30:52
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