In the porter’s bag, For its part, the BYMA S&P Merval index advanced 0.7% to 155,259.27 pointsafter falling 0.7% on Wednesday against expected profit-taking and after rising 8.4% in the previous four rounds.
This market scored its intraday record in pesos at the beginning of the week, climbing to 157,059.97 units. The increases were led by the shares of Edenor (+4.6%), followed by those of Transener (+2.7%) and those of the BBVA bank (+2.6%).
Operators said that the 100% inflation projected for 2022, a notorious weakness of the Argentine peso and the weak level of the Central Bank (BCRA) reserves are major conditioning factors on the financial scenario.
In this sense, S&P Global affirmed the foreign currency rating of ‘Ccc+’ for Argentina’s sovereign debt, while it reduced the local currency rating to ‘Ccc-‘ with a negative outlook.
Bonds and country risk
In fixed income, sovereign bonds in dollars fell by up to 3.2%, after a streak of five consecutive rises encouraged by attractive returns in a positive global context for risk investments.
The casualties were led by the Global 2035 (-3.2%); Bonar 2030 (-3%); and Global 2030 (-1.9%).
Meanwhile, the country risk measured by banks JP Morgan rose 1.6% to 2,383 points.
Source: Ambito
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