06/19/2020 - 12:31
- Clarín.com
- Economy
- Economy
The markets are moving in Argentina to the rhythm of the announcements of bondholders and the Government and speculations about the distances that separate the claims of each other. While there is an improvement in stocks and bonds, the blue dollar continues to advance today and rises another peso, to $ 128. At the close of a rather hectic financial week, optimism seems to have returned to investors who follow the minute by minute of the bid between Argentina and its creditors. And this was reflected in the fact that the Buenos Aires Stock Exchange rose almost 8%, the country risk fell 3% and the shares of Argentine companies that are listed on Wall Street climbed up to 10%.
What happened? Basically two things. The signals that the Ministry of Economy issued that the negotiations were not broken - as it seemed on Thursday night - and the word of President Alberto Fernández, who at noon, in an interview with public media, said he was "convinced" that there will be an agreement and Argentina will not default again
After the collapse on Thursday, this Friday the indicators started up: the bonds rose and, consequently, the country risk fell 1.8% , to 2,566 basis points. In addition, Argentine shares listed in New York show increases of up to 9% , led by banks such as BBVA, Galicia, Macro and Supervielle.
Also in Buenos Aires investors promoted a rise in shares. The S&P Merval advanced 7.8%, with papers that -as on Wall Street- reached close to 8%.
Meanwhile, while the blue dollar advanced to $ 128, the stock or MEP dollar traded more or less stable, at $ 107.17 and the spot with liquidity fell 1.7%, to $ 107.94.
For its part, the official wholesale dollar, which is operated by banks, companies and the Central Bank, advanced 5 cents to $ 69.79. The solidarity dollar - which can be purchased by people with a cap of US $ 200 per month - is at $ 94.25.
Although the deadline of the last extension that the Ministry of Economy had made to negotiate with the bondholders expires this Friday, it is very likely that a new extension will be agreed. The country has already extended the deadline four times since it presented the offer last April 22.
In the Government they insist that the negotiations "remain open" and the relationship with the bondholders "has not been broken."
