Analysts and traders do not rule out a Increase in the reference rate of the Central Bank (BCRA) following an agreement with entities to cancel 13.17 trillion pesos (about 14.24 billion dollars) in liquidity option contracts (puts) to eliminate another source of monetary expansion.
“We believe that these measures, although they bring short-term noise (country risk close to 1,600 basis points), point to a normalization of the market and we remain optimistic about Argentine fixed income, especially at these levels of country risk,” said Nicolás Viveros of Capital Markets Argentina.
The dollar bonds rise up to 1.5% led by the Bonar 2038followed by the Global 2030 and 2035 (+1.4%) and the Bonar 2029 (+1.1%). On the other hand, the Global 2046 up to 2% and the Global 2041 0.7%. Thus, the risk country measured by JPMorgan falls 0.06% to 1,589 points.
S&P Merval and ADRs
In another order, the S&P Merval win a 0.1% to 1,571,121.18 unitsafter losing a 8.5% during the past week. The increases are led by Southern Gas Transporter (+3.3%); Central Port (+2.7%); Pampa Energy (+1.6%) and IRSA (+1.2%), while the declines are led by Macro Bank (+2.1%), Ternium (+1.9%) and Transener (+1.6%).
For their part, Argentine stocks listed abroad operate with a majority of increases in Conveyor Southern Gas (+3%); Despegar.com (+2.2%) and Central Port (+1.8%). The losses are led by Macro Bank (-0.6%), Cresud (-0.5%) and YPF (-0.5%).
Source: Ambito
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