The blue, the financials rise and all quotes are sold above $1300

Hear

Today, all free dollars sell for over $1,300. After an extra short week with little movement in the capital market, this Monday both blue and financial stocks tend to rise and set nominal records. This is a week marked by the treatment of the Base Law and the fiscal package in Deputies, where the final sanction will be given to the Government’s initiatives.

This Monday, the parallel exchange rate is sold at $1330 in the caves and trees that operate in the downtown area of ​​Buenos Aires. They are $30 more compared to the previous close (+2.3%) and reach the highest nominal price on record. So far in June, it has accumulated an increase of $105 (+8.5%), a variation that widely exceeds the performance of fixed terms (2.5%) and will be even higher than the inflation expected by analysts in the month (around 5%).

This movement is replicated in financial quotes. The MEP dollar, tool that allows you to buy dollars legally and without exchange stocks, appears for the first time on the capital market screens $1309.30. They are $35.5 more than the previous close (+2.8%) and accumulate $93.4 in the month (+7.7%).

It also marks a nominal record cash with settlement (CCL), which is used to transfer greenbacks to a bank account outside Argentina, and which is influenced by the settlements made by exporters. Today it sells for $1,318.16which means a daily increase of $26.5 (+2.1%) and $70.7 in June (+5.7%).

However, inflation distorts price perception. In real terms, by adjusting the counted with liquid due to the rise in prices in the economy (both local and American), The $1,282 that this price reached on January 18 is equivalent to $2016 today, according to a report from Personal Investment Portfolio (PPI).

“The global strengthening of the dollar, the fall in raw material prices and the rebound in domestic demand they put more pressure on a market which is already showing fatigue, so exchange rate policy and the perspectives regarding the liberalization of exchange control will be at the center of the scene,” said Martín Polo, analyst at Cohen Aliados Financieros.

He official wholesale exchange rate is quoted at $910, which represents a microdevaluation of $3 compared to last Wednesday (+0.3%), seeking to compensate for the inactivity of the last four days.

Given the rumors that circulated in the market, this weekend the Minister of Economy, Luis Caputo, ruled out that the Central Bank abandons its policy of moving this price at a rate of 2% monthly. This decision was made in mid-December, after the devaluation jump from $365 to $800, and has remained firm until now.

After the fall that Argentine stocks registered abroad during Thursday and Friday of last week, The Buenos Aires stock market opens with a drop of 2.6%. In the main panel, the most affected companies are banking companies: BBVA’s shares fell 5.6%, followed by Banco Supervielle (-4%), Banco Macro (-3.9%) and Grupo Financiero Galicia ( -3.8%).

On the other hand, Argentine shares that operate on Wall Street (ADR) register disparate variations. On the one hand, they rise Edenor (+4.3%), Globant (+2.5%) and Telecom Argentina (-2.5%). On the other hand, the papers of the Macro Bank (-1.4%), Galicia Financial Group (-1.3%) and Cresud (-1.3%).

“The second half of the year will be a time in which the market will begin to demand greater definitions and progress from the National Government.. The exit from the stocks, the end of inflation fears, the new agreement with the IMF, economic reactivation, the arrival of investments, accumulation of reserves, will be some of the main axes to be closely monitored by investors,” said Emilse Córdoba. , director of Bell Inversiones.

The bonuses of the last debt exchange they operate in negative territory. The Bonares register drops of up to 2.68% (AL29D) and the Globals, 4.95% (GD46D). Consequently, the risk country It advances 18 units and is positioned at 1,438 basis points (+1.27%).

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