In this context, the S&P Merval He deepened his decline with the passing of the hours and sank a 2.8% to 2,127,156.22 basic points and within the leading actions that more descended were highlighted by Edenor (-5.9%), Supervielle Group (-5.8%) and Black Loma (-5.6%). In the week, the leading byma index fell 1.8% in dollars (1.4% in pesos) up to 1,772 units.
In Wall Street, on the other hand, the setbacks were led by the papers of Edenor (-7.1%), Loma Negra (-6.2%), and Supervielle Group (-6%). The only roles that resisted the Unanvestite of the Middle East were Energy view (+1.2%) and YPF (+0.2%), Before the climbing of oil price (+7%).
War in the Middle East
Israel launched a large -scale offensive against Iran attacking its nuclear facilities and missile factories, killing several military commanders, in what could be a prolonged operation to prevent Tehran from building an atomic weapon. “The market remains alert with respect to Iran’s response and how far the tension will climb,” they said from the market.
The president of the United States, Donald TrumpIsrael’s main ally, suggested that Iran had caused the attack by resisting an American ultimatum in conversations to restrict its nuclear program. However, Washington said he did not participate in the operation.
They will get counteratacious with hundreds of missiles this Friday to Israel. Fatal victims are not yet registered. The supreme leader of the Persian country, Ayatollah Ali KhameneiHe congratulated his Armed Forces and warned that “they will not give truce” to answer the Israeli aggression that has already caused 78 dead and 320 injured.
“The day was from highest to minor, because the American index was turned, which opened down and then recovered. But when Iran counteratacious a Israelhe fell again. The bonds were lazy in dollars, as did the shares. The dollar was relatively calm for this situation, “he analyzed Rafael Di Giornodirector of Profession In dialogue with Scope.
He oil almost 7% shot after the attack of Israel to Iranalthough during the wheel he climbed 14%. “The oil companies in the world went up, except those of Argentina that were only one point above,” added Di Giorno.
“The local market accompanied the global trend, without its own drivers in the short term that can cushion this type of external shock. Alan Mac CarthyCEO of Front Investments.
For its part, Pablo LazzatiCEO of Insider Finance, stressed that “The S&P Merval index continues to operate within the range of 1,700 to 1,800 dollars. The decline of the week did not respond to domestic factors, but to the impact of a global crisis that, if aggravated, could stop the growth that Argentina had been showing in recent months.”
Local context
At the local level, May inflation was especially low in our country, when located at 1.5%, since, to “the substantive factors, that is, the macroeconomic policy consisting of disinflation, elements that positively impacted” were added, C&T said economic advisors, although he pointed out that “June partial data suggest that this month’s CPI will be greater than May.”
This week also impacted the failure of the Supreme Court of Justice against the former president Cristina Kirchner In the “road” case, he ratified the sentence for six years in prison and perpetual disqualification to exercise public office, as well as for the entrepreneur Lázaro Báez and seven others involved in the case.
“Facing the next wheels, an environment of greater volatility for local financial assets is anticipated, in a context where the geopolitical conflict is still in an incipient stage and could climb in the coming weeks“He analyzed AUXTINA MAQUIEYRA Sailing Investments Commercial Manager.
Bonds and Risk Country
As for fixed income, the Bonds in dollars They registered generalized descents. The main ones were scored by the Global 2041 (-1.5%), the Global 2035 (-1.4%), and the Bonar 2030 (-1.3%). The country risk closed Thursday in 678 basic points.
Despite the poor performance of this Friday, Sovereign bonds under foreign law presented an average rise of 0.9% in the week. The most prominent was the Global 2030 that grew 1.2%.
From now on, “Bonds can come to rise as the date of coupon and amortization payment approaches next month”added Di Giorno.
The CER segment in the meantime showed good demand in general and closed with 0.4% risesleaving the weekly accumulated balance in +0.8%. Prior to the results of the tender of the Treasury, Fixed rate bonds rose 0.4% throughout the curve, and accumulate 0.8% increases in the week. Finally, the Floaters won 0.85% today and accumulate an average gain of 1.7% in the week.
This Friday they entered the coffers of Central Bank the U $ 2,000 million of the repo with international banks and gross reserves grew to U $ 40,461 million. The government needs to add US $ 4,400 million to comply with the agreement clause with the IMF.
Local markets will resume activity on Tuesday, for a bridge holiday scheduled for this Monday.
Source: Ambito
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