2023-06-02 23:42:58
Bonds denominated in dollars experienced a notable increase, which in turn caused the country risk to fall sharply, while the stock index of the Buenos Aires stock market fell slightly. These movements occurred as a result of the agreement reached between the Argentine government and China to expand the swap lineas well as the announcement of the Central Bank to promote financial operations in yuan. To this is added the intention of the United States to support Argentina before the International Monetary Fund.
The bonds in Dollars closed mostly up, with notable increases of 6.9% in Global 2038, 3.8% in Global 2046 and 2.1% in Bonar 2029. These increases caused a 62-point drop in the country risk indicator measured by the JP Morgan bank, standing at 2,556 units, the largest daily decrease in three weeks, reported the NA agency.
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On the other hand, The S&P Merval stock index of Bolsas y Mercados Argentinos (BYMA) experienced a slight fall of 0.12%, closing at 352,936.83 points, following reaching an intraday record high of 358,155.61 units in the first part of the session.
On the overall panel, the biggest gains benefited shares of Rosenbusch Institute, which rose 10.00%, Longvie un 9.96%, Inversora Juramento 8.24%, Edenor 7.53% and Molinos Río de la Plata, which advanced 6.41%. On the other hand, the biggest losses affected the shares of Autopistas del Oeste, which fell 3.88%, followed by Aluar 3.25%, San Miguel 2.94%, Molinos Agro 2.41% and Grupo Financial Galicia, which contracted 2.18%.
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For his part, Shares of Argentine companies listed on Wall Street also registered gains, with Edenor rising 10%, Bioceres 4.1% and Irsa gaining 2.6%.
As for the Central Bank announced the renewal of the currency swap with the president of the Bank of the People’s Republic of China (PBC), Yi Gang, for another 3 years. In addition, the highest monetary authority reported that it will promote financial operations in yuan, both in the spot market and in futures, similar to what currently happens with the dollar.
In Internationally, the New York Stock Exchange experienced an increase of up to 2.1% following the publication of labor data in the United States and the passage of a bipartisan law backed by President Joe Biden that raises the public debt ceiling, thus avoiding a historic default by the country.
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