All in all, the rises in Argentine papers listed on the New York stock exchange were led by the banks, in the face of a strong rise in their US peers. Thus, the advances of Grupo Supervielle (7.2%), BBVA (4.7%), Banco Macro (3.8%) and Grupo Financiero Galicia (3.1%) stood out.
In addition, the assets of Cresud (6.7%), Telecom (5.5%) and YPF (3.7%) rose sharply.
At a global level, the markets improved before a possible agreement between the US and China on tariffs, although inflationary concerns continue, in a week where the minutes of the last meeting of the US Federal Reserve will be known.
Thus, the S&P Merval stock index of the Buenos Aires stock market gained 2.5%, to 90,344.05 points, led by the improvement of local ADRs listed in New York.
The outstanding fact of the day at the local level was the resignation of the Secretary of Domestic Trade, Roberto Feletti, due to discrepancies over the policy to contain prices arranged by the Government, after his move to the orbit of the Minister of Economy, Martín Guzmán. His place will be taken by a man from Guzmán, Guillermo Hang, who has worked in different areas of the Ministry of Economy from 2008 to 2015. Since the beginning of the current government’s term, he has been a member of the Central Bank’s board of directors.
Bonds and country risk
As for fixed income, securities denominated in dollars began the week with firm increases, of up to almost 5%, due to opportunity purchases.
Advances in hard currency stocks were led by Global 2038 (+4.9%), Global 2029 (+3.1%) and Global 2041 (+2.7%). Among the Bonares, 2029 (2.2%) stood out.
Thus, the country risk measured by the JP.Morgan posted its highest daily drop in two months, falling 2% to 1,912 units.
In the segment of pesos, the bonds that adjust by CER (follow the evolution of inflation) closed with most drops, which in some cases reached up to 1.2% (TC23).
Source: Ambito
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