Caution continued in the markets, waiting for the Government to provide more details on how the battery of measures announced on Thursday night by the new Economy Minister, Sergio Massa, will be implemented. At the end of the week the blue dollar rose again, but financials fell to $6 and country risk broke through the 2400 basis point barrier.
Today the trees of the porteña street of Florida sold the parallel exchange rate at $293, $2 more than the previous close (+0.6%). It should be noted that yesterday the informal price of the US bill fell $7, in a movement that adjusted its value to that of the rest of the free exchange rates.
“What the market is saying is that the announcements that Massa released are fine, but what is needed are concrete measures to be able to assess whether compliance will be possible or not. The support was already reflected when the rumor began that Massa would take over, because the bonds rose and the dollars fell. But this is not Switzerland, where we changed ministers and we are on autopilot. Strong changes are needed. Meanwhile, we are already waiting a week”, considered the financial analyst Christian Buteler.
In the opposite direction, the financial dollars traveled the day with a downward trend. The MEP dollar appeared on screens $280.44, a daily drop of almost $6 (-2%). The dollar counted with liquidation (CCL) lost $5 (-0.2%) and positioned itself in the $284.58.
The official wholesale dollar was sold at $132.89. In contrast to the blue dollar, currently the highest price in the market, the gap between both values was 120%. “This week’s Massa announcements may bring more calm to the market, at least compared to the last few weeks. But they fell short on the part of the official dollar: the Central Bank (BCRA) continues to lose reserves, and the measures did not attack the problem,” said Fernando Marull, an economist at FMyA.
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On the other hand, today bonds of the last debt swap registered disparate variations. Abroad they advanced to 2.9% (Global 2035), while at the local level they sank to 2.5% (Global 2046). The country risk was positioned at 2398 basis pointsa daily decline of 59 units (-2.4%).
“The reading of the announcements by investment banks was very cautious with certain doubts about the implementation of some measures and the fiscal savings they represent. At the same time they recognize that this ‘plan’ is not very ambitious to stabilize the Argentine economy and only tries to control the crisis”agreed from Delphos Investment.
The S&P Merval traded at 121,003 units, which represented an increase of 0.5%. The panel of the Buenos Aires stock exchange was led by Transportadora de Gas del Norte (+11.2%), Transener (+10.4%), Banco Supervielle (+7.3%) and Central Puerto (+2.6%). ).
Likewise, Argentine shares listed on Wall Street (ADR) They operated on positive ground. Banco Supervielle papers rose 6.9%, followed by Transportadora de Gas del Sur (+6.2%), Loma Negra (+5.2%) and Central Puerto (+5.2%), among others .