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S&P Merval shares and dollar bonds climbed up to 9%: country risk fell to July lows

S&P Merval shares and dollar bonds climbed up to 9%: country risk fell to July lows
S&P Merval shares and dollar bonds climbed up to 9%: country risk fell to July lows

The Buenos Aires stock exchange extended rise and the local actions They jumped up to 9% This Wednesday, July 10, while Argentine bonds rose up to 5% due to induced purchases of assets with good liquidity in the operational resumption after the holiday of Independence Day and after the Government signed the “May Pact”.

In this context, the index S&P Merval gained 2.9% to the intraday nominal record of 1,690,008.95 units, After advancing almost 2.5% in the previous three rounds and exceed their maximum of 1,665,774.43 points scored at the beginning of June.

In the leading panel, the rises are led by bank stocks Edenor (+8.8%), Gas del Sur Transport Company (+6.8%), IRSA (+6.7%), BBVA (+6.4%)and Macro Bank (+4.8%).

Meanwhile, the Argentine ADRs operated with generalized increases in Wall Streetby the hand of IRSA (+5.8%); Edenor (+5.4%); Loma Negra (+2.7%); Gas del Sur Transport Company (+2.6%); Galicia Financial Group (+2.4%) and Supervielle Group (+2.4%).

“We are going through a particular moment in the market, as there is enough liquidity to think about an improvement in asset prices and another push for the dollar (fall of the peso), but political conditions weigh heavily, even if the ‘May Pact’ is not something relevant or exclusive,” said a financial agent.

In another order, it was learned that Telecom Argentina is preparing a placement of US$500 million in Negotiable Obligations (ON) at seven yearsreported IFR, a financial service of LSEG. The company may also launch an offer to exchange outstanding 8% notes due 2026 for an additional amount of new notes, it added.

Bonds and country risk

For their part, the sovereign bonds in dollars operated with general increases of up to 5.7%headed by the Bonar 2029followed by the Bonar 2029 (+4%); he Bonar 2041 (+4%); he Bonar 2030 (+3.9%) and the Bonar 2035 (+3.8%)The only one who came down is the Global 2046 (-1.3%).

In this context, the risk country measured by the JPMorgan fell 0.9% to 1.477 basis points, the lowest level so far this month.

The Government faced this Wednesday the payment for the Partial amortization of AL30 and GD30 bonds, While details of a deal are delayed New Monetary Regulation Letter (LEREMO) by which remunerated liabilities will be transferred Central Bank (BCRA) to the Treasure.

On Wednesday, the Ministry of Economy awarded $4.24 trillion after receiving bids for a total of $5.91 trillion. In addition, they clarified that the remainder of this tender, above the $1.05 trillion due, will be deposited in the Treasury account at the BCRA.

Source: Ambito

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