The S&P Merval index progresses more than 1% and the ADRs of Argentine companies operate with widespread increases, as well as dollar bonds.
The Argentine actions rise up to 6% This Tuesday, August 5 at Wall Street, and promotes the S&P Mervalwhile the dollar bonds extend their profits after the International Monetary Fund (IMF) will approve the review of the agreement and It arranged the arrival of a disbursement for US $ 2,000 million.
On another wheel with the dollar on low, the S&P Merval advances 1.3% to 2,316,490,860 basic points and within the leading actions the ones that rise most stand out the banks: Supervielle amounts to 4.3%, and macro, 3.2%, while Metrogas earns 3%.
In Wall Street, meanwhile, ADRS They operate with generalized increases. The main ones are for Supervielle (+6%); Macro Bank (+2.8%), Pampa Energy (+2.7%), e YPF (+2%).
The market closely follows the evolution of the exchange rate since its eventual impact on inflation worrieswhereby the government fights to try to keep under 2% monthly based on its objective of fiscal and commercial surplus.
The President Javier Milei vIt has to veto a rise in retirement and a law to ensure the protection of people with disabilities sanctioned by the opposition in Congress, considering that they put that financial balance at risk. “My hypothesis is that this is a correction of the real exchange rate (…) but to correct, inflation does not have to react, because if inflation rises the same as the dollar (weight fall), it does not correct anything,” said economist Fausto Spotorno.
INDEC will announce the July Retail Price Index on Wednesday of the next week.
The International Monetary Fund (IMF) reduced the rod for the objectives of accumulation of reservations for Argentina in 2026 in its program of 20,000 million dollars and canceled a review that should be carried out before the legislative elections. With the recent approval of the first review of the program, the agency turned to the country 2000 million dollars, which on Monday hit the BCRA reserves by totaling just over 43,000 million as a provisional fact.
Besidesthe Government presented a discharge to the American justice in the face of the appeal filed by the Republican Action for Argentina (RA4ARG), in the case for the nationalization of the YPF Amid an unfavorable ruling for the country for 16,100 million dollars. In the brief before the Court of Appeals of the Second Circuit, Argentina reiterated its willingness to investigate the entry of the Eskenazi family to the oil company, where if it is proven that there was some kind of cover -up, the issue could move towards new legal actions.
Bonds and Risk Country
As for fixed income, dollar bonds quote with generalized increases. The main ones are for the Global 2041 (+0.8%), the Global 2046 (+0.7%), and the Global 2029 (+0.6%). Meanwhile, the country risk measuring JP Morgan It was located Monday at 761 points.
Juan Manuel Franco, chief economist SBS grouphe said: “In a week without many relevance macro data, The market will remain attentive to the dynamics of interest rates in pesos and the dollar, the two variables that have been carrying all eyes in recent weeks. We remember that we are in a period of the year in which much entry of commercial dollars is not expected, even with the reduction of retentions to the agriculture announced by the Government. “
Source: Ambito
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