Thus, the main rises in dollar bonds in the short section are for the Global 2029 (+6,5%)in the middle section for the Bonar 2035 (+4.6%)and in the long section for the Global 2046 (+8.3%). The country risk measured by the JPMorgan bank fell 130 basis points to 2,408 unitscompared to an intraday historical maximum level of 2,976 units recorded this week.
This Friday, the country risk reaches the lowest level prior to the departure of Martín Guzmán from the Palacio de Hacienda. Before her resignation, that indicator was at 2,374 points, as soon as Silvina Batakis arrived, it jumped to 2,574 and just a week ago it was close to 3,000 points.
Stocks and ADRs
After six days on the rise, the S&P Merval stock index of Buenos Aires cae 1,7%, a 125.191,46. On Thursday it touched an intraday all-time high of 130,650.78 units and accumulated a rise of close to 20% in the last six trading sessions.
In the leading panel, the greatest increase was for BYMA with 4.4%, while the losses were led by Transportadora Gas del Norte (-4.3%), Pampa Energía (-3.6%), and Telecom (-3.6%). -3.3%).
The change in trend occurs in tune with the sharp fall in financial dollars. Thus the CCL -operated with the Global 2030- sinks 12.3% to $282.23 while the MEP dollar -also valued with the Global 2030–down 7% to $277.30.
“It’s premature to see a change in expectations as there were no announcements, just names”said a stock trader, noting that “in the market prices are tempting and speculative purchases are always there”. The new cabinet is expected to announce economic measures in the coming days, as Massa will have to give up his seat in Congress before taking office as minister.
For their part, Argentine companies listed on Wall Street recorded the majority of increases. Thus, Banco Supervielle (+6.9%), YPF (+5.9%), and Grupo Financiero Galicia (+5.8%) lead the increases.