The stock index S&P Merval lost 0.6%, to 91,154.43 points as a provisional closing, led by the energy sector and with selective profit taking after giving up to just over 3% against the open and gaining 0.74% last week.
A strong inflationary escalation hits the country, at a time when tensions in the government coalition of President Alberto Fernández deepen investor doubts, despite a recent agreement to refinance debt with the International Monetary Fund (IMF).
Faced with the current situation and to calm the waters, “the pre-established goals in the agreement with the IMF are ratified”said the settlement and clearing agent Puente.
The Minister of Economy, Martín Guzmán, said that the goals of the new program agreed with the international organization will not be changed, after meeting on Friday with the head of the Fund Kristalina Georgieva.
In the last business week of the fourth month of the yearinstitutional investors seek to level out their portfolios in the face of floor inflation of 5% for the period, according to projections by private analysts.
Bonds and country risk
The Argentine country risk that the JP.Morgan bank prepares daily it yielded six units at 1,770 basis points, after having exceeded 1,800 points intraday.
Bonds in dollars reflected this behavior and sought a readjustment to the average positive level of 0.5% at closingwhen they previously recorded a drop of up to 0.4% given the weakness of the international markets.
Source: Ambito
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