Ana Clara Pedotti
08/30/2021 1:41 PM
Clarín.com
Economy
Updated 08/30/2021 2:52 PM
Argentine assets extend their rally
.
This Monday, on Wall Street, almost all the shares of local companies are listed in the green,
with Edenor at the top, which jumps more than 22%.
At the same time, dollar bonds rose up to 1.5% and the country risk is around 1,533 units.
The good mood of the international market also impacts the Buenos Aires stock market
. The Merval index jumps 3.1% and is close to closing the month with a gain of more than 14
%. In the local market,
Edenor
is also
the share that rises the most, climbing 21.6%.
They are followed further behind by the shares of Central Puerto, Supervielle and Transener, which gained 8.6%, 6.4% and 6.3% respectively.
"
There is no logical reason for Edenor to rise as strongly
and as directed as it has been doing for a couple of days. It is likely that they are opportunity purchases of some fund or sector due to the depressed price that they seek to position themselves within the sector" , an operator explained to Clarín. Even so, the papers of the electricity company have gained almost 70% in dollars since August began and 77.8% in 2021.
Investors wonder if the rally of the last few days is directly related to the result of the polls in two weeks
: "With the PASO in sight, investor expectations will continue to revolve around the polls. A positive reading of the In terms of the results, the market can give more momentum to the assets and
the Merval could reach US $ 4 70 according to the current country risk
, "explained analysts at Cohen.
For their part, PPI specialists analyzed that the result of the STEP in Corrientes may have further driven purchases. "The reactivation of volume in the local market is related to the electoral trade, where political polls play a central role. Under this perspective, the result of the elections in Corrientes can improve the expectations of these assets," they said.
In the debt segment, dollar bonds rise to $ 1.6 However, an analyst explained that this rebound is "poor" when compared to stocks.
"If the market were betting on a change in trend post STEP, the first that should react are the bonds, which yield 20%. There are many doubts for investors about how these elections will impact the next two years of the economy. medium term, "said one analyst.
YN
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