After a bearish start, the leading index S&P Merval de Bolsas y Mercados (BYMA) won 0.6%, to 78,427.93 units, for which he scored his third (slight) raise in a row.
The actions that led the day’s progress were: the Ternium steel company (+ 3.4%); the power generator Central Puerto (+ 2.4%); and the electricity transport company Transener (+ 1.9%). On the other hand, the losses of the session led the Richmond laboratory, the operator of TV Cablevisión, and the agricultural company Cresud, which yielded up to 2.1%.
The volume traded in shares fell 19% to $ 933.4 million, representing only 24.3% of the total traded in equities (the Cedears registered a volume of $ 2,912 million).
On Wall Street, for its part, the ADRs of Argentine companies closed the day without a defined trend. The podium of the most relevant increases was made up of unicorns MercadoLibre (+ 3.9%); and Globant (+ 3.7%); and the cement company Loma Negra (+ 1.6%). On the contrary, the biggest setbacks were led by Cresud (-3.3%); Corporación América (-2.8%); and Supervielle (-1.3%).
The head of the IMF, Kristalina Georgieva met on Tuesday with the Minister of Economy, Martin Guzman, and both agreed to continue work to develop a credible credit program, without giving more details. Meanwhile, the G20 requested this Wednesday a review of the surcharge rate that Argentina requests be reduced in its talks with the IMF, a request already made public by the G24.
“The market is a reflection of the uncertainty, not only due to the November elections, but also the slowness with which progress is being made before the IMF and the exchange restrictions, which only allow the Central Bank (BCRA) to recover some reserves” , explained a banking analyst. This Wednesday, the monetary authority bought about US $ 120 million, and accumulated in 4 days a positive balance of almost US $ 400 million, helped by the latest exchange restrictions.
After three consecutive casualties, the S & P500 bounced 0.3% on Wall Street after knowing the inflation data for September, which showed 0.4% (5.4% y / y) versus 0.3% expected by the market consensus, while core inflation was 0.2% ( 4% YoY) in line with expectations.
On the other hand, the minutes of the last Fed meeting reflected the position of the committee members to begin the withdrawal of stimuli to mid-November, which would last until the middle of next year.
In the fixed income segment, dollar-denominated bonds fell again, with no floor in sight, and they lost up to 1.7%, despite a good climate in the emerging debt market.
The most salient setbacks of the day were recorded by the Global 2035 (-1.7%); the Bonar 2029 (-1.7%); and the Global 2030 (-1.6%).
Consequently, the Risk country Argentina bounced 0.3% to 1,628 basis points, close to its highest level in seven months (1,631 points, scored at the end of September).
Among the bonds in pesos, meanwhile, those adjustable by CER featured a weaker wheel compared to the previous ones, and the short and middle section of the curve yielded to -0.2%, while the reds were slightly higher in the longest part, waiting for the data of September inflation. Private consulting firms marked an acceleration during the previous month (between 3 / 3.3%).
Finally, dollar linked debt was traded offered in the short tranche (T2V1, TV22) and taken in the long tranche (T2V2, TV23), in a day with few business in general.
Finally, this Thursday there will be a new Treasury tender, in which it will seek to raise $ 20,000 million, among the debutant 21-day Lelite, the Ledes (S31E2, S28F2), a Lecer (X30J2) and the Badlar TB23 bond.
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