Tuesday , April 20 2021

The stock market in Buenosaire climbed 4% after the Fed's statements



The Merval rose 4% at the wheel and gained an improvement of 6.7% in the first week of 2018 and 13.5% in the last six business sessions.

Traders said the drops recorded in 2018 left local assets at very attractive levels and with succulent returns.

In a global context of lower risk appetite, argentinian assets behaved quite favorably in relative terms, "the SBS Group said in a report.

country risk, in this respect, fell by 37 basis points to 732 units, after registering levels of nearly 840 points in the last week of 2018.

The advance was in line with Wall Street, where the shares recovered from a drastic decline on the previous day due to positive employment data that brought optimism to the trade negotiations between Washington and Beijing for next week.

Non-agricultural payroll taxes totaled 312,000 jobs in December, the biggest gain since February, surpassing economist expectations of 177,000. Wages have also risen, while the unemployment rate has fallen to a low of 49, the Labor Department said.

The report mitigated concerns about the economic downturn, while plans for a new round of trade talks between the United States and China between 7 and 8 January also increased market sentiment.

Dow Jones Industrial Average rose by 607.27 points, or 2.68% to 23,293.49 units, while the S & P 500 gained 63.28 points, or 2.58%, to 2,511.17 units. The Nasdaq rose by 204,456 points, or 3.16%, to 6,667,960 units.

The benchmark indicators have boosted the rise after Fed President Jerome Powell has tried to mitigate financial markets worried about the economic downturn in the United States, making sure that, although the pace is solid, the bank will be vulnerable to growth risks.

Rava Bursátil analyst Eduardo Fernández stressed that "on the local market, Merval followed the footsteps and downs of the reference markets".

bonds

The main dollar bonds (quoted in pesos) were closed with significant increases. Bonar 2024 increased by 0.8%, Bonar 2020 gained 0.6%, and Reducing according to Argentine law increased by 2.5%.

In the meantime, its versions operating under New York law are 2.6%.


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