This Friday, Stock Exchanges and Markets of Argentina (BYMA) operates with slight low and thus breaks with the initial trend of the day, which had been bullish, and with the line of increases that it had been maintaining throughout the week, as a consequence of taking speculative positions on inflation. Meanwhile, the positive streak of Argentine bonds, which also show an upward trend, has not stopped.
It is still premature to anticipate what the closing result will be, but the drop could be responding to the launch of a new soybean dollar 3, which comes under the name of the agricultural dollar, which is expected for the next few days, according to what the minister of Economy, Sergio Massa, this Thursday. The announcement generates diverse visions in the market, which expectantly awaits its arrival.
On the other hand, it is expected that this Friday the International Monetary Fund (IMF) approve the country’s goals for the fourth quarter of 2022, which will determine that the agency disburses 5.3 billion dollars and Argentina pays an outstanding debt of about 2.7 billion dollars.
In this context, the main index of the local stock market, the S&P Merval, registers a drop of -0.19% to 251,152.230 units.
On the other hand, some analysts observe a strong imprint of the pre-election context in the trend of the markets these days. “It is evident that the movements of the week were driven by the electoral trade”, estimated, for example, Portfolio Personal Inversiones.
ADRs on Wall Street
On the New York Stock Exchange, Wall Street, shares of Argentine companies show a mixed trend. The one that rises the most is that of MercadoLibre, which rose 4.31% this Friday, while the BBVA ADR is the one that fell the most, with a drop of 4.09%. While Cresud rises 1.10% and Transportadora Gas del Sur, 1.05%. For its part, YPF recovers 0.70%, Despegar, 0.66% and Edenor, 0.06%.
For their part, Banco Macro lost 3.07% and Central Puerto 3.04%, Grupo Supervielle and Grupo Financiero Galicia both fell 2.89%. And Loma Negra and Telecom both also fell to the same extent, 1.89% each. While Edenor fell 1.53% and IRSA lost 0.94%
Bonds and country risk
In this scenario, the Argentine bonds in dollars rise up to 1.7% (in the case of GD38) this Friday, as they have been doing over the last few days and the country risk drops 0.31% to 2,301 points, from 2,334, where it had closed this Thursday.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
