to the contrary, the global GD38 and GD41 fall to 3%. Consequently, the country risk measured by JPMorgan falls four basic points to 2,394 units, compared to a recent intraday all-time high of 2,976 points.
The President of the Chamber of Deputies, Serge Massa, It will take the reins of the Ministry of Economy, which will now encompass the economic, productive and agricultural areas. “Massa’s entry as super-minister of the economy brought calm to the markets and hope to some investors”, commented from EconViews.
They added that “however, there are still many doubts as to whether Massa is clear that the economic measures to reduce the fiscal deficit or lower the exchange rate gap imply political costs that require strong support from Kirchnerism (part of the ruling party), and not You know if you have it.”
Investors await economic announcements that seek to reassure the financial market at a time when annual inflation threatens to exceed 80%, the Central Bank has few reserves and exchange rate pressures put pressure on the market.
“The chances of a devaluation, whether de jure, via a discreet jump in the exchange rate or de facto, via an exchange rate split, will be more latent than ever throughout August“, estimated Portfolio Personal Investments.
“The key this week will be focused on the political agenda and the announcements of possible new measures with the change of cabinet. The expectation is particularly on the exchange rate dynamics that, despite the slowdown in financial dollars, remains inconsistent,” he added. .
S&P Merval and ADRs
The stock index BYMA S&P Merval loses 3%, to 118,821.53 units, after falling 3.8% on Friday and marking a historical maximum level of 130,650.78 points on Thursday. The leading benchmark accumulated a rise of 7.6% during the past week and ended July with a rise of 38.53%. In the leading panel of the Buenos Aires stock market, the papers YPF and Transportadora de Gas del Sur posted drops of 6.53% and 5.81%, in that order. The Merval in dollars rose 2.7% to 436.37 points.
For their part, the Argentine papers in wall street They operate disparate with a notable rise of Edenor up to 6.8% followed by the finance companies Banco Macro (3.8%), Grupo Financiero Galicia (3.6%) and Banco Francés (2.4%). The decreases are led by Irsa (-3.9%), Tenaris (-2.7%), Transportadora Gas del Sur (-2.3%).
Source: Ambito
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