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Despite global pessimism, the Buenos Aires stock market started the month with a slight drop. However, the gas tariff adjustment boosted the sector’s stocks, with Transportadora de Gas del Sur ADR rising almost 14% in New York. The bullish momentum extended to banking stocks listed on Wall Street, with BBVA ADR advancing 7.4%, and Macro and Supervielle adding 6% and 5% respectively.

Investors on Wall Street are seeking a respite after recent cautionary rounds, as expectations of lower rates are diminishing. Economist Gustavo Ber explained that this more positive sentiment is reflected in the performance of ADRs in the US while the local market is playing catch up after multiple holidays. Energy stocks saw notable performance in the local square, with Central Puerto, Edesur, and Gas Natural Ban all benefiting from the gas rate adjustments.

The new rate tables for gas transportation and distribution companies were published, allowing for monthly updates starting in May based on an automatic formula. This increase in rates is expected by companies to help rebuild profitability in a sector that has been heavily impacted in recent years. On the bond side, Argentine debt is moving in a mixed direction this month, with the country risk worsening by 0.8% and returning to 1,451 points.

For sustained growth and stability in the global economy, PPI warned that continued economic stability and growth are essential. Additionally, there must be sustainable accumulation of reserves and normalization of exchange markets as well as maturities in the short term.

Overall, while there may be some temporary setbacks or fluctuations in global markets like Buenos Aires’ stock market , it’s important for investors to keep an eye on long-term trends and factors like interest rates , energy prices , government policies , etc .

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