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 pierced the barrier of 1,500 basis points and the Buenos Aires stock market rebounded.
In the exchange market, This Monday the blue dollar was traded at $1,280 for sale in the caves and trees of downtown Buenos Aires. They were $15 more compared to Friday’s close (+1.2%), while in the first 10 days of June it accumulated an advance of $55 (+4.5%).
With the opposite trend, financial exchange rates operated in decline. The MEP dollar through the purchase and sale of GD30 bonds was quoted at $1,272.63, a daily decrease of $9.7 (-0.8%). He cash with settlement appeared on screens at $1,306.41, a decrease of $6.6 compared to the previous close (-0.5%). In June, they rise to $56.7 and $59, 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 $902.50 (+0.4%). Between one end and the other, there is currently an exchange gap of 44.75%.
Besides, The Buenos Aires stock market rebounded 3.8% and was quoted at 1,576,628 units. In the main panel, the actions of Transportadora de Gas del Sur (+5.7%), Pampa Energía (5.4%), Banco Macro (5.3%) and Grupo Financiero Galicia (5.2%) stood out ).
The upward trend was also observed among Argentine stocks listed on the New York Stock Exchange (ADR). The papers of Southern Gas Carrier led the rise with 6.7%, followed by Pampa Energy (+6%), Central Port (+4.8%) and the Macro Bank (+4.3%).
“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 operated in positive territory. The Bonares rebounded up to 5.34% (AL30D) and the Globals, 4.76% (GD30D). This had a positive impact on the risk country, indicator that fell 94 units and stood at 1,488 basis points (-5.94%).
THE NATION
