The dollar bonds rose more than 8% average and the shares of Argentine companies listed on wall street marked hikes greater than 20%in a day in which investors came out to validate in this way the versions that gave account the appointment of Sergio Massa as the new Minister of Economywhich was finally confirmed by the national government in the last hours of this Thursday afternoon.
This Thursday afternoon, the president Alberto Fernandez announced the decision of unify the Ministries of Economy, Productive Development and Agriculture, Livestock and Fisheries in a single portfolioand that Massa will be in charge of it.
Regarding the markets, in the fixed income segment, global bonds in dollars finished with average raises of $1.85 (8.5%), while titles in pesos advanced 1% in the short part of the curve and remained unchanged in the medium and long section.
A) Yes, country risk fell 5.4% up to 2,538 basis points.
In the equity segment, Argentine ADRs that are listed on the NYSE closed the day with the majority of positive results, led by Edenor (20.1%); South Gas Carrier (13.3%); Galicia Financial Group (8.3%); Macro Bank (8%); and Loma Negra (7.8%).
Meanwhile, the only declines corresponded to Tenaris papers (-0.6%); America Corporation (-0.6%); and Take off (-0.3%).
In the local market, the Buenos Aires stock market advanced 0.84%. The gains of the leading shares were recorded by Edenor (10.12%); South Gas Carrier (6.22%); Central Port (3.78%); Northern Gas Carrier (3.74%); and Transener (3.34%).
In the opposite direction, the decreases corresponded to Telecom Argentina (-3.53%); BYMA (-1.8%); YPF (-1.54%); BBVA Argentina (-1.36%); and Cresud (-1.36%).
The foreign exchange market had a wheel with significant declines in the price of stock dollars and the blue or informal.
In this context, the price of the official dollar closed this Thursday at $137.86, with a rise of 28 cents compared to the day before.
In the informal segment, the so-called “blue” dollar registered a drop of 12 pesos, to $314 per unit.
In the stock market, the dollar counted on liquidation (CCL) fell 5.2%, to $321.90; while the MEP fell 5.9% to $301.02.
In the wholesale segment, the price of the US currency registered an increase of 21 cents compared to the previous closing, at an average of $131.12.
Thus, the dollar with the 30% surcharge -considered in the PAÍS tax-, marked an average of $179.22 per unit, and with the advance payment on account of the Income Tax of 35% on the purchase of foreign currency, $227, 47.
The specialist Santiago Ruiz GuiñazuHead of Equity Sales & Trading of Adcap Grupo Financiero, told Télam that national assets appreciated considerably since the beginning of the week, based on political rumors that speak of changes in the Cabinet.
“We believe that those rumors, if they materialize, can be positive. In any case, the international markets are moving favorably and are driving the risk appetite for Argentina,” Ruiz Guiñazú said before the Government confirmed Massa’s appointment as head of the new portfolio of Economy, Productive Development and Agriculture. .
Regarding the drop in financial dollars, he pointed out that it may be due to the fact that there was a panic peak last week that prompted the rise and that with the passing of days, the exchange rate was finding a balance.
“In the last hours, the market is taking a potential cabinet change in a positive way, and due to this, the country risk is going down”, Ruiz Guiñazú completed.
In his turn, Joel Lupieri, an analyst at Epyca, said that the significant decline shown by stock dollars can be explained by the “expectation” of Massa’s appointment as minister.
“Massa seems to arrive sponsored by better sponsorships, more fluid contact with both local and international investors,” the analyst concluded.
