Argentine assets were and are now closing positively. The S&P Merval gained 1.7% measured in dollars.
Shares in the local market fall, but on Wall Street there are Argentine papers with increases of up to 2.2%.
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The Bonds and stocks reversed initial losses and closed with a majority of “green” this Tuesday, October 1 on a day marked by the beginning of a new month and in which the data of September collection. Likewise, the market It is already starting to calculate the inflation data, which the Government will only announce in the middle of the month, but which is expected to be around 3.5%.
With the goals of the International Monetary Fund (IMF) mostly unmet, The expectation of a new agreement and money laundering concentrate the attention of investors. During this month the first part of the laundering, which has a 5% tax limit for when the recognized money exceeds US$100,000, and Deputies must begin the treatment of the 2025 budget project with the premise of ‘zero deficit’.
Bonds and country risk
Within fixed income in dollars, the bonds that rose the most were the Global 2038 (+1.2%), Bonar 2038 (+0.6%), and the Bonar 2030 (+0.4%). Thus the country risk measured by JP Morgan, it remained below 1,300 basis points and closed at 1,287 units. The BOPREALESmeanwhile, closed with generalized drops of up to 0.8%.
“I have been seeing for several days a quite volatile market in stocks, with a fairly calm dollar, as for Argentine sovereign bonds, I understand that every day we have been having considerable increases and with very good signs towards foreign markets. According to what they have been saying to the IMF He is only a little worried about the reservation issue, but the rest of the parameters are over fulfilled,” he explained Leonardo Svirskymarket analyst Scope.
In terms of bonds in pesos, the debt CER closed mixed: the biggest increase was for TZX28 with 0.6% and the biggest drop for the PARP with 2%. The Lecaps they rose to 0.6%. And the linked dollar bonds they advanced 0.2%.
S&P Merval and ADRs
He S&P Merval rose 1.8% to 1,728,761.16 points. Measured In CCL dollars, the leading panel increased 2.1% to 1,393.31 points, the lowest level since the beginning of September.
The main increases responded to Telecom (+6.2%), Southern Gas Carrier (+2.9%) and Cresud (+2.8%). Meanwhile, Argentine stocks gained up to 3.4% in Wall Streethand in hand with Telecomclosely followed by Southern Gas Carrier and Macro Bank with 2.9%.
Source: Ambito
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