The porter bag scored this Thursday April 13 his fifth rise in a row, in a day in which The blue dollar touched $400 for the first time and the Central Bank (BCRA) managed to add some $332 million to its reserves, the highest daily figure of the year, thanks to the takeoff in the income of foreign currency as a result of the official program that encourages agricultural exports.
With the market expecting the inflation data for March that will be released this Friday (around 7% is expected), the S&P Merval stock index improved 1.3%, to 270,328.98 units, after marking an intra-hour historical maximum value in pesos of 271,485.37 points. The stock market accumulated a rise of 7.5% in the last five days.
Among the leading stocks, the largest gains were recorded by Banco Macro (3.5%); Transener (3.3%); Cresud (2.9%); Edenor (2.8%); and Pampa Energía (2.8%). The decreases corresponded to YPF (-0.8%); Transportadora de Gas del Norte (-0.4%); and Telecom Argentina (-0.1%).
While, Argentine papers on Wall Street They operated with a mixed trend. The action of Globant was the one that rose the most, with an increase of 3.5%. They were followed by Despegar (+3.4%); Free Market (+3.2%); Banco Macro (+2.5%); Tenaris (+2.5%); Edenor (+2.5%); Cresud (2.4%); Bioceres (2.4%); and BBVA bank (1.5%).
Meanwhile, the papers fell Grupo Supervielle (-2%), YPF (-1.5%), Bunge (-1.3%), Vista Energy (-1.2%); Central Puerto (-1%), IRSA (-0.7%), Adecoagro (-0.5%), Telecom (-0.4%) and Transportadora Gas del Sur (-0.2%).
Business moved as investors weighed in on reports in the United States that showed an unexpected drop in producer prices and a larger-than-expected increase in weekly jobless claims. IMF Managing Director, Kristalina Georgieva, recognized this Thursday before the press in Washington, within the framework of the spring meetings of the organization and the World Bank, the efforts of the Argentine economic team to meet the goals of the common program in force.
“In the second half of last year, the Argentine authorities have directed efforts to develop prudent management and meet the goals (…) Argentina was affected by a severe drought that has undermined the performance of the economy and is significantly damaging to the population,” said
The BCRA board of directors did not issue an opinion this Thursday on the reference rate, finally, while analysts do not rule out an upcoming increase due to the inflationary escalation suffered by the country. In this regard, the economist Fausto Spotorno maintained that the inflationary escalation persists since “the first week of April gives us an inflation of 2.5%” and considered that “we are entering a recession and we are already in stagflation.”
“Beyond the fact that the first liquidations of the ‘agricultural dollar’ begin to appear, there are still concerns among operators regarding the rate of entry of foreign currency and the balance to be retained in order to recover reserves during this stage, since the drain is would resume later,” estimated economist Gustavo Ber.
Bonds and country risk
In fixed income, dollar bonds closed mixed, along with a risk country from the JP.Morgan bank, which was around 2,385 basis points.
The bond that climbed the most was Global 2029 (+0.9%), followed by Bonar 2041 (+0.6%) and Global 2035 (+0.5%). Meanwhile, the Global 2046 (-1.3%), Global 2041 (-0.3%) and Bonar 2038 (-0.2%) fell.
For their part, both dollar-linked and dual sovereign bonds continued to take, the former gaining an average 0.5% and the latter an average 0.7%, with TDF24 standing out, which rose 0.9%.
Finally, the CER segment showed demand along the curve, and both the Leceres and the Bonceres closed with average increases of 0.6%.
Source: Ambito
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