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S & P Merval added almost 2% and won a new maximum in pesos



Index S & P Merval Argentine Stock Exchanges and Markets (BYMA) rose to 35,511.21 units, The unprecedented nominal figure for the reference position at the close (it also broke through its intraday high, marking 35,597,720 points near the end).

In the same way, it is worth remembering that the leading panel measured in dollars is far from the highs reached a year ago.

Daily growth was carried out by stocks Banco Macro (+ 4.7%); Aluar (+ 4.5%); YPF (+ 3.7%); and Petrobras (+ 3.6%).

The latter were supported rise to 2.5% in oil prices, the day after the US sanctions against the Venezuelan oil company PDVSA to weaken the Nicolas Maduro regime.

Anyway, the promotion of S & P Merval took place in a small business: they were taken into account only 576 million dollars

At the exchange level, the wholesale dollar recovered 55 cents (the highest daily gain in the year) to $ 37.70. Due to the reappearance of higher demand due to coverage.

There is a growing expectation among operators that BCRA will change its short-term procurement strategy (up to $ 50 million per day), possibly with a faster decline in the Leliq rate and / or increased market interventions. I would exchange.

Monetary power "One should not fall in love with this stage of tranquility of the exchange rate, based on very high rates, given that this dynamics, in addition to the delay in restoring activity, risks in time to move on to another episode of backwardness of the exchange rate, and therefore steadysaid economist Gustavo Ber.

Fixed income and country risk

In the fixed income segment, the main bonds recovered in their quotations in dollars. Of course, by 2025, Argentina was in the lead with a growth of 3.5%. Meanwhile, Bonar 2024 added 0.3%; Discount on Argentine law increased by 0.5%; Argentina increased 0.6% by 2037.

Demand for bonds that are adjusted for CER (the shortest) continued in pesos, while sales of BoPoMo (TJ20) began to be observed due to the consistent decrease in the Leliq rate.

Finally, the Argentine country risk, as measured by JP Morgan, increased by eight units on Tuesday to 693 basis points.


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