He S&P Merval remains on the rise and rises another 2% after 7% from yesterday arrival of fresh liquidity after he central bank (BCRA) abruptly reduced the interest rate referential. In that framework, the local actions they climbed up eleven%.
The Buenos Aires stock market gains 2.08% and reaches 1,048,265.25 units this Wednesday, March 13
He BYMA stock index gained 7.2% yesterdayto 1,026,837,070 unitsafter a 4.5% collapse recorded the past Monday with the announcement of a debt swap. In that way, your biggest daily rise in almost 4 monthsfrom the November 21, 2023.
In that framework, in the local squareshares skyrocketed until 11.5%as is the case of Edenor. Among those that increased the most, followed Transener (+10.4%); Galicia Financial Group (+9.8%); and Southern Gas Carrier (+8.7%).
Argentine stocks on Wall Street: how they operated this Tuesday, March 12
For their part, Argentine stocks that operate on Wall Street closed with most rises. Those with the greatest gains were those of Galicia Financial Group (+4.6%), BBVA (+4.4%) and Southern Gas Carrier (+3.6%).
While, among those who most they fellthose of Take off (-2.2%), Bioceres (-1.3%) and Free market (-0.1%).
Argentine stocks soared: in what context?
He BCRA lowered its policy rate until the 80% annuallyfrom the previous level of 100%, and eliminated minimum rates Over the fixed term deposits in the middle of an ambitious Treasury debt swap.
“The Central Bank surprises by cutting the interest rate on the eve of the publication of the February inflation data“remarked the placement and liquidation agent Cohen.
Analysts consulted by the BCRA reduced their annual inflation estimate in a 15.8% and even 210.2% by 2024from a previously predicted 227%.
The bank returns for savers They plummeted to 75% on average from a floor of 110% in force until the day before, in line with the BCRA decisionoperators agreed in a Reuters survey.
These decisions “would increase liquidity in pesos in the market. We hope that this liquidity will be channeled towards the acquisition of instruments in dollarshe weakening of the parallel exchange rate either inflation-linked instruments“reported a foreign consulting firm.
Besides, On Monday, the Government launched a voluntary debt exchange in pesos with expiration in 2024 by instruments that would include bonds with a value equivalent to about US$64,000 millionin an attempt to delay payments in the midst of a major economic crisis hitting the South American country.
Source: Ambito
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