Argentine shares soared as much as 10% and S&P Merval had its best day in a month

The argentinian shares shot up to almost 10% this Thursday, July 13, and the S&P Merval frame his best day in almost a month. This happened because taking toppings in shares of good liquidity before the rise of the dollarat times of greater global appetite for risk placements.

BYMA’s S&P Merval jumped 4.5%to 451,138.56 points, marking a new record in pesos. Within this framework, all the shares rose and those that marked the greatest improvements were those of edenor (+9.6%), Supervielle (+8.7%) and Macro Bank (+7.9%).

For their part, Argentine stocks listed on Wall Street they operated with majorities of increases. The list of the papers with the highest increases of the day is headed by edenor with a rise of 9.1%followed by Supervielle (+5.6%) and cresud (+4.3%). Meanwhile, the only shares that fell were those of Telecom (-1.4%) and those of IRSA (-0.6%).

The bets on a change in the direction of the country after presidential election which will take place in October trigger speculative positionscoincide operators.

This Thursday, the statistics agency INDEC announced the progress of the retail prices in June and indicated that it was from 6%with which they accumulated an increase of 115.6% in the last 12 months.

On the other hand, there is still no news from the negotiations with the International Monetary Fund (IMF) for a relief in the goals and advance disbursements. However, a entourage of the Ministry of Economy will travel to Washington in the coming days to meet with authorities IMF and advance in the modifications of the agreement.

“The teams have been working hard”said julie kozack, IMF spokesperson during a scheduled briefing in Washington, without elaborating.

“Global stocks continue to be supported by drop in inflation in the United Statesas central banks are expected to stop raising interest rates,” said Alexander Londoño of ActivTraders.

Meanwhile, this Thursday the Central Bank (BCRA) bought $12 million in the exchange market. In turn, the monetary entity accelerated the detachment of yuan given that the BCRA participated in this Friday’s conference with a sale of CNH 785 million.

Bonds and country risk

In fixed income, bonds in dollars ended with majorities of increases. The ones that rose the most were Global 2046 (+4.7%), the Global 2030 (+0.7%) and the Overall 2029 (+0.3%). While the ones that fell the most were the bonar 2029 (-2.8%), the bonar 2035 (-2.2%) and the Global 2038 (-2.2%).

For his part, he risk country Argentine, measured by the bank JP Morgan, rose 0.9% to 2,035 basis points.

On the other hand, next Friday, the Ministry of Economy will tender one combination of instruments of the National Treasury integrated by Bills and Bonds with maturities between 2023 and 2025.