The port bag falls this Wednesday August 9 and short bullish streak three wheels in line. This happens days after primary elections (PASO) to define presidential candidates for the October general elections.
In that framework, the S&P Merval BYMA falls 0.6% to 463,603,400 unitsafter shooting up 3% the day before.
The local actions operate in negative ground. The papers that drop the most are those of mirgor (-3%) Telecom (-2.8%) and black hill (-23%). Meanwhile, those that rise the most are those of transener (+1.5%), BYMA (+1.4%) and Pampa Energy (+1.1%).
In Wall Streetthe Argentine papers they operate mixed. The greatest profits are marked by the papers of Pampa Energy (+2%), Southern Gas Transporter (+1.7%) and central port (+1.1%). Meanwhile, those who fall the most are those of Take off (-2.8%), black hill (-1.9%) and Bioceres (-1.5%).
Economic context
A few days of the primary elections (STEP) where the presidential candidates for the october generalsthe dollarization of portfolios is expedited as hedges against foreseeable exchange rate corrections with the new Government.
“The economy is not the best ally of PASO (primaries), nor in 2019 and much less in this year in which the main variables really show a great deterioration and, if it were what defines the vote, the Government would be in a very unfavorable situation,” said a report from the consulting firm ABCB.
While, blue dollar scores this Wednesday, August 9, his first casualty in seven days, although he remains close to $600 a key symbolic level, in the midst of new operations in the city of Buenos Aires.
Sergio MassaMinister of Economy and presidential candidate for the ruling party, managed to get Argentina to sign a bilateral aid with Qatar to get 580 million special drawing rights (US$775 million dollars) to meet the obligations of the date before the IMF.
Meanwhile, last Tuesday, the Central Bank (BCRA) sold foreign currency in the exchange market. In this way, he ended a streak of three wheels in a row in positive territory. Thus, the cumulative for August was located in the US$358 million.
The BCRA total reserves are committed to totaling about $24 billion according to provisional data, when the net reserves they hover around a negative of about u$s9,000 millionaccording to private estimates.
Bonds and country risk
In the fixed income segment, securities in dollars operate with majorities of falls. Those who registered the greatest casualties are the Global 2038 (-5.9%), the bonus 2030 (-2.5%) and the Overall 2029 (-23%). Meanwhile, the only ones who advance are the Global 2035 (+1.2%), the Global 2041 (+0.7%) and the Global 2041 (+0.7%).
For his part he risk countrythe index measured by JP Morgan, falls off eight units, or 0.4%, up to 2,012 pointsbut it remains far from the top close to 3,000 points scored a year ago.
Source: Ambito
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