The sovereign debt advanced in the foreign square and at the premises, while the Merval closed on low after rising with strength on Tuesday.
The Bonds in dollars rose for the second consecutive wheel on Wednesday, while the Argentine shares closed with a majority of increases on Wall Street, in a wheel marked by the strong decline of the dollar in the official market and after the Fed decided to keep the interest rates, as expected by the market.
Instead, the S&P Merval decreased 3.3% in pesos to 2,059,914,860 points, While in dollars advanced 0.7%, given the significant drop in the exchange rate. On the previous day, The local selective rose after four consecutive wheels down: “Yesterday advanced 3.8% to US $ 1,758, recovering the land lost during the first March wheel,” PPI said.
The leading actions that fell most, in that sense, were Black Loma (-6.3%), Edenor (-4.8%), Supervielle Group (-4.5%) and Galicia Financial Group (-4.1%).
As for the Argentine actions that quote abroad, they closed with a majority of increases. The main increases were for Telecom (+3.7%) and Port Central (+3%).
Bonds and Risk Country
The Bonds in dollars They rose in the local square to 1.7% hand in the Global 2029followed by Global 2038 (+1%) and the Bonar 2029 (+0.6%).
In that context, the country risk remained above 700 points, according to the measurement of JP Morgan.
After the exit of the so -called exchange rate, the government states that the Central Bank (BCRA) will not buy dollars for its reserves until the price of the currency touches the lower part of a flotation band initially set at 1,000 and 1,400 pesos per dollar.
The International Monetary Fund (IMF) last month gave a strong support to the government when it approved a new credit line for 20,000 million dollars, of which 12,000 million were already disbursed and used to clean up the BCRA accounts.
The BCRA said that it received those 12,000 million dollars in cash from the Ministry of Economy to cancel ‘Intransferable letters’ that were held by the entity with expiration dates on June 1, April 2025 and April 29, 2026 (both total cancellation), and April 3, 2029 (partial cancellation). “These liquid resources, products of the new agreement with the International Monetary Fund, contribute to strengthening the balance of the BCRA,” said the monetary entity.
Source: Ambito
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