Thus, the largest decrease was for Bonar 2041 (-2.2%), closely followed by Bonar 2038 (-1.4%), and Bonar 2030 (-1%). A) Yes, the country risk carried out by the JP. Morgan bank rose 0.6% to a historical maximum level of 2,772 units.
This week, the new Economy Minister, Silvina Batakis, announced a series of measures aimed at reducing the high fiscal deficit and calming the financial marketsamid rising inflationary escalation and rising exchange rates.
In this context, the Central Bank announced that it is already effective the increase applied to purchases made in foreign currency by citizens abroad with credit and debit cards. In turn, “the BCRA decided not to raise reference rates to maintain the appetite for Treasury instruments, assuming the cost of deepening the negative value of real rates,” said the clearing and settlement agent Cohen.
In this frame, The National Institute of Statistics and Censuses (INDEC) reported on Thursday that the Consumer Price Index (IPC) rose 5.3% in Juneaccumulating a rise of 36.2% so far this year and 64% in the last 12 months.
The Argentine stock market this Friday maintains an upward bias of prices encouraged by the trend of the ADRs listed in New York, in a cautious business environment due to local economic doubts.
The S&P Merval stock index in Buenos Aires gained 2.5% to 102,986.23 points, after falling 1.71% the day before. The Merval accumulates so far this year a rise of around 21%, compared to accumulated inflation in the same period of 36%.
In the leading panel the biggest raises were for Cresud (+5.1%), BYMA (+4.5%), and Aluar (+4%). The only decrease is recorded by Edenor with 0.6%.
As for the Argentine companies listed in New York, Mercado Libre (+5%), Cresud (+3%), and Telecom (+2%) led the rises. The biggest drop, like the Buenos Aires stock market, was for Edenor with 2.4%.
“The strong inflationary escalation and the exchange pressures keep the attention of the investors”, said an operator and added that “there is no mood in the market for the market to take off. There are many doubts and few certainties in the market, for that reason the investor prefers to be liquid and covered”.
Source: Ambito
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