In this framework, the Argentine papers listed in New York closed with the majority of positive variations, led by Transportadora Gas del Sur (+3.7%), Mercado Libre (+3.2%); and Telecom (+5.2%). Some casualties were also recorded, for example, those of Bioceres (-2.6%), Cresud (-2%); and the bank BBVA (-1.6%).
During the day, the S&P Merval in dollars (CCL) exceeded 526 pointsits highest level since September 11, 2021. It ended at 517 points (+0.4%).
At the end of the day, the rise of the Buenos Aires stock market deflated and barely advanced 0.05%, to 144,714.11 units, after marking the intraday record in pesos of 147,135.35 points within minutes of its opening, surpassing a previous top level registered at the end of August. The leading panel came from increasing 6.1% in the past week.
As in the US, the papers of Transportadora Gas del Sur were the best of the day, registering a jump of 5.1%. The assets of Telecom (+2.1%), and BYMA (+1.7%) rose to the podium.
“An impasse is achieved in the market with the ‘soybean dollar’ and that encouragement spreads to the rest of the assets, but the indications of how the goals with the IMF will be met must be followed and that is why the importance of the Massa talks in United States”, explained an agent of the foreign private bank.
The macroeconomic goals set forth in the agreement signed between the IMF and Argentina at the beginning of the year will remain unchangedThe agency reported on Monday.
The Government hopes to add at least some $5 billion for bookings in September from soybean farmersto whom it recognizes 200 pesos for every dollar settled, compared to an official exchange rate of around 35% less.
I know “He bought time to strengthen reserves and reduce devaluation expectations in the short term. However, let us remember that the ‘B’ side of the ‘soybean dollar’ is an unsustainable capital loss on the BCRA’s balance sheet”indicated from PPI.
Along with a latent aversion to risk due to local challenges and fears of a global recession, this Wednesday the August inflation, after a recent survey that indicated a projection of a rate of 95% for the whole year.
On the day, the BCRA bought another 170 million dollars, after adding some 1,050 million last week.
“What we say to the agricultural sector is: if they need money for their operation, they have to sell their production and liquidate. Not to have loans at a subsidized rate from the financial system,” affirmed Agustín D’Attellis, director of the BCRA in journalistic declarations.
However, the parallel dollars fell again and the “cash with liquidation” (CCL) pierced the $280 (closed at $279.90). In addition, the MEP dollar lost 0.1% to $269.39, while in the informal segment, the blue fell $2 to $272.
Bonds and country risk
In the fixed income segment, dollar bonds climbed up to 2.1% in the US, led by Bonar 2038, while in the Buenos Aires stock market, they closed with the majority of increases, in some cases, up to almost 1.5%, led by the Global 2028 (+1.4%), followed by Global 2029 (+0.9%) and Bonar 2030 (+0.8%).
In effect, the risk country back 12 points to 2,306 units, its lowest level since the end of last June.
Source: Ambito
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