The S&P Merval short three -rise streak and falls This Friday, July 4, although on this day It does not have the Wall Street reference because its national holiday remains. This week the variable debt suffered a cimbronazo with the adverse ruling against YPF but then recovered while at the local level, the first review of the agreement with the agreement with the agreement with the International Monetary Fund (IMF).
Within that framework, the S& P Merval falls 0.2% to 2,073,845,930 and within the leading actions the most lose value are: IRSA (-2.2%), Silver Commercial Society (-1.6%) and aluar (-0.8%).
In statements a Scopethe director of Profession Investment, Rafael Di GiornoHe said that the last three advances of the S&P Merval do not respond to a founded recovery and that the perspective for the second semester will be given by “the international plane” and “the evolution of local variables.” “The market pays close attention to the purchase of BCRA and the electoral dollars”he pointed out in reference to the coming months.
In the local market, the energy sector is emerging as “one of the most interesting for the coming months”, especially with a possible “electoral trace”, according to Alan Mac CarthyCEO of Front Investments. “Both TGS and Pampa have solid balances and exposure to Muerta Vacawith chances of capturing valorization if a macro standardization scenario is consolidated after the elections. For investors with local risk appetite, they are alternative to follow closely, “he said.
At the local level, the IMF reported Thursday that general discussions with Argentina on the first review of the agreement remain “very productive”but did not give details of this week’s meetings.
“The transition to a stronger exchange regime has been fluidthe disinflation process has resumed and the economy continues to expand. High frequency indicators suggest that poverty follows a downward trend in Argentina, “said the body’s spokeswoman, Julie Kozack.
On the other hand, the market Analyze a report by the British Barclays giant About Argentina, discarding the imminence of an external crisis, but highlighting the need to add liquid reserves to the coffers of the Central Bank (BCRA).
On the other hand, Juan Carlos de Pabloeconomist close to the president Javier Mileihe valued the “pause” in the commercial war of USA Against the world, something that benefited the markets, while internally, he recalled: “We are days after a new review of the International Monetary Fund”in which relevant figures of its member countries will be known and, especially, the situation of the world GDP.
Within this framework, investors operate cautiously, more taking into account the Latest adverse news for the countrywhich included the non -improvement in MSCI’s ratingthe unfavorable judicial ruling for the expropriation of YPF and the suggestion of JP Morgan to abandon the strategies of “Carry Trade”.
Bonds and Risk Country
Dollar bonds record majority of casualties, centrals: the Global 2041 (-0.5%), the Bonar 2041 (-0.3%), and the Global 2046 (-0.2%).
Source: Ambito
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