The rises of the Argentine papers were led by Edenor (+6%); Bioceres (+5.9%); and IRSA (+4.1%).
In the Buenos Aires Stock Exchange, meanwhile, S&P Merval’s leading Argentine Stock Market and Market Index (BYMA) gained 1.4% to 84,850.31 units, ending the week with an improvement of 1.9%.
“Domestic assets are showing a recovery beyond the tone of caution and expectation that the negotiations with the IMF awaken, which will resume at the beginning of next year,” noted an analyst.
The international organization recognized on the eve that The conditions of the 2018 agreement were not “robust enough” to face the country’s structural problems and that it did not meet the objectives of restoring confidence in external fiscal viability.
Argentina paid the international credit organization almost US $ 1.9 billion, which hit the Central Bank’s reserves, which according to analysts it would have a net balance of only about $ 2.5 billion.
The monetary entity’s loss of currency accelerated in recent months, which triggered new doubts about the economy amid complex negotiations with the IMF to restructure a debt of about 45,000 million dollars that Argentina cannot face.
In the fixed income segment, sovereign bonds in dollars closed unevenly, with increases led by Globals 2041 and 2046 (+ 0.7%).
In this context, Risk country measured by JP Morgan bank it grew 0.2% to 1,757 basis points.
Argentine markets will remain closed this Friday, given a holiday for Christmas Eve.
Source From: Ambito
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