The porter bag trades down this Friday, July 14, and cuts a bullish streak of three rises in a row for profit taking after a strong increase registered in the previous session before speculative positions due to the strength that the dollar took in the informal market in recent days.
So the index leader S&P Merval loses 1.9%, until the 442,571,490 units, after marking a record high of 452,626.18 points on Thursday. Within this framework, Argentine stocks operate with majorities of falls, led by ternium (-4.5%) and followed by those of Aluar (-3.6%) and those of Galician Financial Group (-2.8%). Meanwhile, the only papers that go up are the two BBVA (+1%), BYMA (+0.7%) and black hill (+0.02%).
For their part, Argentine stocks listed on Wall Street They all traded lower. The list of papers with the highest falls is headed by View (-10%), Galician Financial Group (-6.8%) and Macro Bank (-6.3%).
Meanwhile, the Dolar blue deepens its escalation and set a record again historical of $520.
“The foreign exchange outlook is challenging”said the analyst Salvador Vitelliand pointed out that “contemplating the reported sale of yuan, so far the Central Bank has sold (net) 855 million dollars in July alone, and accumulated sales for the year for 3,922 million.”
He added to Reuters that “without a doubt the unsophisticated investor tends to dollarize positions in front of a second half that looks completely challenging. Anyway, in June the dollar practically did not changeso these movements still do not amaze me”.
Meanwhile, last 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, dollar bonds operate with low majorities. Those who fall the most are bonar 2038 (-2.7%), the bonus 2030 (-2.6%) and the Global 2030 (-1.7%). While, those who advance the most are the Global 2046 (+3.6%), the Overall 2029 (+1.4%) and the Global 2038 (+0.9%).
For his part, he risk country Argentine, measured by the bank JP Morgan, up 0.1%to 2041 basic points.
This Friday, the Ministry of Economy will make a Bills and Bonds bidding with maturities between 2023 and 2025 as part of internal financing.
“This week the payment of coupons by the Treasury was carried outwhich involved a disbursement around US$1,020 millionof which it is estimated that 80% was in private hands,” recalled the consultancy Delphos Investment.
Source: Ambito
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