It came a day after the BCRA limited the holding of CEDEARs (foreign paper listed in pesos on the Stock Exchange) to companies that access the foreign exchange market. The measure aims to limit the actions of companies that seek hedges in hard currency, determining a maximum of 100,000 dollars as an availability limit and providing that those who operate in the official exchange market will not be able to buy or sell CEDEAR for 90 days.
Under this scenario, the risk country prepared by the bank JP.Morgan fell 0.8% (23 basis points) to 2,890 units.
The growing doubts about the future of the Argentine economy this week triggered strong pressures on the foreign exchange market that sank the price of the peso (the blue touched $350 on the day), amid soaring inflation, high emissions and political tensions.
On the other hand, dollar-linked sovereign bonds continued with good demand and rose by an average of 1.7% along the curve, with good volume on TV23. In the week, DL debt rose 4% in the short part and an average 10% in the long part of the curve.
Finally, the CER debt traded with some demand for the first time this week, increasing an average of 0.25% in the short section and increases of 2% for the rest of the curve. End to end in the Bonceres lost 0.50% on average in all its maturities, mainly punishing TX26 (WTD -3.76%), according to SBS.
S&P Merval
In equities, the Buenos Aires stock market closed with increases this Friday and the BYMA’s S&P Merval stock index gained 1.6%contrary to the reference indices that closed the day with negative results, with which it accumulated an increase of 9.2% throughout the week, essentially driven by the increase in the price of the dollar counted on settlement (CCL).
As a relevant fact of the day, the Buenos Aires stock market scored, as on the day before, a new nominal record in pesos, at the end of the session at 113,851.41 points.
In the Buenos Aires square, the day’s gains from the leading shares were recorded by Grupo Supervielle (19%) -after the announcement of a share repurchase program-; BYMA (8.6%); Aluar (5.5%); Grupo Financiero Valores (5.1%); and Ternium (4.9%).
Losses were recorded by Holcim (-4.4%); YPF (-2.7%); Cablevision (-1.6%); Black Hill (-1.5%); and Pampa Energia (-1.1%).
On Wall Street, the papers of Argentine firms closed the day with the majority of positive results, led by Banco Supervielle (19.2%); Edenor (10.5%); Central Port (5.5%); Galicia Financial Group (3.8%); and Banco Macro (2.8%).
On the contrary, the declines corresponded to Mercadolibre papers (-3.2%); take off (-2.1%); Ternium (-1.2%); Globant (-1.1%); and Tenaris (-0.7%).
Source: Ambito
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