Opportunity purchases boosted Argentine stocks and Merval recovered almost 5%

The Argentine stock exchange returned to positive numbers this Tuesday before a renewed investor interest, especially on energy and financial actions, with the support of depreciated stock values ​​for the result of the primary elections.

Stock index S&P Merval from Buenos Aires rose 4.7% to 28,465 units, which cut the accumulated loss in pesos so far this year to 6%. It also decreased the loss of 2019 to 36.7% when measured in dollars.

The actions of Transener (+ 11%) and Transportadora Gas del Norte (+ 10%) they led the advances, where bank papers also stood out, with gains of the order of 5 percent.

The market moved by opportunity purchases by operators oriented to the trading in a climate of volatility, an economist told Reuters.

The progress of the quotes was partially transferred to the businesses in the New York stock exchanges, where ADR of Argentine companies they advanced in dollars about 1% on average.

The strong rise in pesos, compared to a discrete dollar gain, showed that there was intense operation of "counted with liquidation", with purchases of shares in the Buenos Aires Stock Exchange and sales -in dollars- of those same papers abroad.

"It continues to look convenient to prioritize a capital preservation objective for portfolios, emphasizing the risk diversification through reinvestment of the flow of income and amortization of Argentine bonds, towards international fixed income with investment grade, "estimated investment banking Bridge in a report

Portfolio Personal Inversiones said that "at the beginning of the new election campaign", the financial market operates"without new strong political signals"while from abroad" China's weak trade data, as a result of clashes with the United States, increased fear of world economic growth and intensified market expectations regarding the announcement of a strong stimulus program this month at the ECB and Fed meetings. "