“The Merval is the one that has risen the most in the region (…) even after having broken above 145,000 points, a level that could act as support, although in the short term a downward trend remains“, said Alexander Londoño, an analyst at ActivTrades.
The Consumer Price Index (CPI) of the South American country would have grown 6.5% in October, mainly due to increases in food and services, according to the median of a Reuters poll.
Also, shares of Argentine companies listed on Wall Street climb up to 5.6%. The papers that lead the increases are those of Tenaris (+5.6%); Globant (+4.4%) and Mercado Libre (+4.2%).
As for local news, Economy Minister Sergio Massa assured industrialists that the commitment to close the year with adequate reserves will be fulfilled. In addition, and after the closing of the market, it was known that the Ministry of Economy managed to exchange short-term debt for $931,116 millionby granting three dual bonds maturing between June and September of next year, with a participation level of over 61% on the scheduled payments of the eligible instruments.
The Palacio de Hacienda launched this swap because it faced maturities for a total amount estimated at 1.7 trillion pesos during the current month and next December. The next tender will take place next Friday, November 18.
Bonds and country risk
In the fixed income market, dollar bonds operate with most losses. They are headed by Bonar 2029 (-2.1%); the Global 2030 (-1.6%) and the Bonar 241 (-|.4%).
Meanwhile, the country risk measured by JP Morgan banking it falls 55 points or 2.1% to 2,481 units.
Source: Ambito
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