Hear
This week, the attention of the financial market is on Congress. On Wednesday the debate will take place for the Base Law in the Senate, news that analysts consider will mark the mood of Argentine bonds and stocks. Meanwhile, in a climate of caution, the risk country It breaks the barrier of 1,500 basis points and the Buenos Aires stock market rebounds.
In the exchange market, This Monday the blue dollar is trading at $1,285 for sale in the caves and trees of downtown Buenos Aires. They are $20 more compared to Friday’s close (+1.6%), while in the first 10 days of June it accumulates an advance of $60 (+4.9%).
With the opposite trend, financial exchange rates are falling. The MEP dollar through the purchase and sale of GD30 bonds is trading at $1,269, a daily drop of $13.3 (-1%). He cash with settlement appears on screens at $1,297.98, a decrease of $15 compared to the previous close (-1.2%). In June, they climb $53 and $50.5, respectively.
“The evolution of alternative dollars is explained by the recent dynamics of dollar flows: a lower liquidation of exports reduced supply both in the official and financial markets,” they explained from the economic consulting firm Ecolatina.
This happens because exporters can settle 20% of their cash sales with liquid, which adds foreign currency supply to the market. The remaining 80% have to channel at the official exchange rate, at $902.40 (+0.4%). Between one end and the other, there is currently an exchange gap of 43.8%.
Besides, The Buenos Aires stock market rebounds 1.7% and is listed at 1,545,449 units. In the main panel, the shares of Sociedad Comercial del Plata (+3.5%), Transener (+3.5%), Banco Macro (+2.6%) and Pampa Energía (+2.5%) stand out ).
The upward trend is also observed among Argentine stocks listed on the New York Stock Exchange (ADR). The papers of Pampa Energy lead the rise with 4%, followed by YPF (+3.1%), the Galicia Financial Group (+2.6%) and Southern Gas Carrier (+2.2%).
“Going forward, we hope that the Argentine stock market remains waiting for what happens on the political and economic fronts. The future of the Bases Law will be key, the evolution of the CCL dollar and country risk will also play a predominant role. Today the market equity Argentine looks more at short-term politics and economics; and not so much the promise of a growing Argentina 2025,” considered the Invertir en Bolsa (IEB) analysts.
After last week they accumulated drops of 10%, today the bonuses debt sovereigns operate in positive territory. The Bonares rebound up to 4.82% (AL29D) and the Globals, 3.77% (GD30D). This has a positive impact on the risk country, indicator that falls 83 units and stands at 1,499 basis points (-5.25%).
THE NATION
