operators They are still analyzing the news that the President Alberto Fernández will not stand for re-election in the next elections.
For some, conditioned the news to the dynamics of dollar bonds under foreign law because showed strong increases what was deflating with the passing of the hours. Meanwhile, other operators minimized the news and its effect, and they gave more relevance to the financial situation, in which the pressure on parallel dollars continues to be strong.
Dollar bonds under foreign law rise more than 3% this Friday after knowing the announcement of President Alberto Fernández that he will not stand for re-election in this year’s elections.
Although at the opening of the conference, the bonds began to rise, they rebounded after the president’s announcement and posted marked increases.
They lead the rises Overall 41 which climbs 3.1% minutes after the announcement. It is followed by the Global 30 that advances 3.05%, the Global35 with a 2.9% increase.
Behind is the Overall 38which climbs 2.4%, the Overall 29which earns 2.1% and the Overall 46which rises 1.8%.
An experienced market operator highlighted in a dialogue with Ámbito that the announcement was taken as good news: “They had started with a slight upward trend and, after the announcement of the withdrawal of Alberto Fernández’s candidacy for re-election, they reacted a little more” .
Thus, he evaluated that it is “good news for the market” and pointed out that, regardless of the fact that the candidates are not yet known, “the market sees that a different government is coming”. And he did not rule out that we could see a slightly stronger reaction throughout the day. He also assured that “there are to see how it evolves throughout the day” the local market, which has just opened.
“It is due to a technical rebound after the strong beating driven by the latest political signswith the expectation that the puzzle of the candidacies in the main coalitions”, he highlighted in dialogue with Ámbito Gustavo Bereconomist and head of Estudio Ber.
“Globals improve almost 2% abroad, while it is a mediocre day for the rest of the emerging bonds. I would think that the price action of local bonds responds to idiosyncratic questions linked to the latest political news,” adds Nery PersichiniHead of Research & Strategy at GMA Capital.
In the opposite sense it is expressed Raphael DiGiorno, director of Proficio, who does not believe that the impact of the president’s announcement was direct on the bonds, but considers that they respond to the very dynamics of the titles: “The president’s announcement did not influence almost anything, it was not substantive because there was no surprise effect, the decision was expected”. On the dynamics of the bonds as of the Argentine ADRs, he points out that the movements are not significant enough to indicate the impact of the announcement.
Argentine ADRs
The shares of Argentine companies listed abroad operate unevenly. The falls are led by Despegar, which loses 2% in the first operations of the day.
they follow him Mercado Libre (-1.1%), YPF (-0.5%) and Loma Negra (-0.5%).
On the other hand, the shares of Grupo Financiero Galicia (+1.1%), Grupo Supervielle (+1.1%), Transportadora Gas del Sur (+1%) and IRSA (+0.6%).
Actions
In the local market, Argentine companies operate with the majority of increases, and the rise is led by the shares of Transportadora Gas del Sur (3.8%), followed by Central Puerto (3.1%), Grupo Financiero Galicia (2.4 %), Pampa Energía (2.3%).
Among the few falls of the day are BYMA (-1%), Ternium (-1%), Cablevisión (-0.8%) and Sociedad Comercial del Plata (-0.4%).
Risk country
The country risk rises 0.6% to 2,643 points.
News in development.-
Source: Ambito
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