Dollar stocks have already lost nearly 15% since the beginning of July.
Argentine bonds and equities continue to be volatile, and at the beginning the stocks that went public, which in 2020 were made by the now former Minister of Economy Martín Guzmán, cannot sustain the positive results of the previous dayand they operate with disparate results. The main market index, the S&P Merval, which also initially showed red numbers, now reverses and rises 1.7%. In any case, all attention goes to the dollar. Blue, for example, goes up by $ 10 and stands at $ 267.
The political and economic uncertainty that was accentuated on Saturday after the abrupt departure of the former Minister of Economy Martín Guzmán, the waiting times until the arrival of the new head of the Treasury Silvina Batakis and the still open definition of the team that it will not stop giving the market the tools it needs to trust.
In this context, and closely following the behavior of external markets which again this Friday failed to anchor on the positive path. In the realm of bonds, the Bonar29 than Thursday it managed to rise by almost 5%, now it loses 2.91%, dollar securities have already lost almost 15% since the beginning of July.
However, the stock market stood out and, after a negative start, the main local stock index, the S&P Merval, rose by 1.7%, to 103,973 points. It closed with a rebound close to 8% on Thursday.
For its part, eThe country risk, which on Wednesday exceeded the ceiling of 2,700 basis points – a record since the last restructuring of the debt – repeats the behavior of Thursday and drops by another position, from 2,650 to 2,643 units registered on the last working day of the week.
The previous day, Argentina managed to capture the good mood of the global stock market. Since the beginning of the month Merval earns more than 10%an improvement that is practically zeroed if measured with respect to the price of the spot dollar in liquidation.
The rebound also extended to the bond market on Thursday. Despite Silvina Batakis’ statements on Wednesday evening, dollar bonds improved to nearly 5%, with Bonar 2029 in the lead. Sovereign equities have been hit hard over the past week and have lost nearly 15% since the beginning of July.
YN
Source: Clarin
