The porteño stock exchange operated in positive ground This Thursday, in a market conditioned by the US holiday and the lack of details about the new letter of monetary regulation announced by the Government to transfer remunerated liabilities from the Central Bank (BCRA) to the national Treasury.
The measure, which generated an abrupt liquidity due to the disarming of wallets between the banks, has put pressure on the exchange rate round in recent days to the detriment of private and public assets.
In this context, the index S&P Merval won a 0.4% to 1,612,744.580 unitsafter losing 1.9% in Wednesday’s session.
Local stocks operated with a majority of advances: among the increases, those of Commercial Society of the Silver (+4.7%), Transener (+2.2%) and IRSA (+1.9%); while, among the few losses of the day, there were the shares of Central Port (-0.8%), Bank of Securities (-0.3%), and Aluar (-0.2%).
“Most likely it is today (Thursday) “Do not expose the technical aspects of the new lyrics”a BCRA spokesman told Reuters based on the expected weekly meeting of its board.
Bonds and country risk
In the fixed income segment, the dollar bonds recorded majority of falls. The titles that fell the most were Global 2046 (-1.2%), Bonar 2046 (-0.8%), and the Global 2030 (-0.6%).
In this framework, the risk country closed Wednesday at 1,523 basis points, just two units above the previous day.
The market is waiting for more signals
“The slight improvement is likely to continue today, given that yesterday there was greater relaxation in the markets with dollar prices losing some of the previous rise,” he told Ambit, Gustavo Quintana, from PR Exchange OperatorsHe explained that it would be more of a readjustment than a significant drop in prices.
Likewise, the economist Christian Buteler He pointed out that “this Thursday, due to the holiday in the US, there will not be much trading volume in the market” and, although he points out that yesterday there was a significant drop in the dollar, which indicates a significant change in the market climate, “I do not think it is a change in trend, but rather that the same path will continue.”
In this context, Pablo Repetto, Head of Research at Aurum Valoressaid that “the market is too cyclothymic and you have to look at it to see how the flows move, but, at the end of the day, what prevails are the fundamentals.”
The need for a phase two dominates the City
For Repetto, today, “there is a feeling that this mechanism that they used until now to “Curbing inflation was very positive, it was useful and helped a lot,” But he considered that it is already exhausted. “A serious phase 2 must come and that implies a lot of uncertainty regarding the ability to press the buttons, not only to go in the right direction but also with the ability to not miss the command,” he stressed. For him, that is the key element that prevails today for us to see greater risks.
Looking ahead, however, “the market is optimistic, but has a lot of questions,” he said. Juan Ignacio Alra, Portfolio Manager of Southern Trust. “There are questions about when the restrictions will be lifted (if they are lifted) and whether there will be a rate hike. All of this has led to a certain warming of some financial assets and the rumors and nervousness will possibly continue,” Alra added.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
