Among the actions that rose the most, those of BBVA Bank +2%; followed by Cresud (+1.8%) and Banco Supervielle (1.5%).
“There is a lot of local prudence, where the conditions are to end the month on the rise, but what happens (with the financial market) in Brazil will have a great impact. Lula’s narrow margin of victory must be assimilated“said a stockbroker of the national bank.
Lula da Silva narrowly defeated President Jair Bolsonaro in Sunday’s runoff election in Brazil, but the incumbent leader still had not conceded defeat as of Monday morning, raising fears he could challenge the result.
Meanwhile, the shares of Argentine companies listed on Wall Street rose to 3.7%, led by Cresud (+3.7%). Behind appear Banco BBVA (+3.3%); Galicia Financial Group (+2.9%) and Tenaris (+2%).
Bonds and country risk
In the fixed income market, dollar bonds operate mixed with very small variations. Among the increases, Global 2030 (+0.3%) and Bonar 2030 (+0.2%) stand out, and among the decreases, Bonar 2029 stands out with a decrease of 0.7%..
Meanwhile, the country risk measured by JP Morgan banking falls three points this Monday or 0.1% to 2,587 units.
The Minister of Economy, Serge Massa, announced this Friday that Argentina reached an agreement with the Paris Club for the payment of a debt close to 2,400 million dollars, which could calm the financial tensions of the country that needs foreign currency to stabilize the exchange rate and slow down inflation that could reach 100% in 2022. The agreement will allow refinancing the debt, basically extending terms and lowering rates.
Source: Ambito
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