The Stock Market advances in the last wheel of the week

The index S&P Merval it improved 1.3%, to a new all-time high of 157,352.40 points, after rising 0.75 on Thursday’s session and posting a record intraday level of 157,059.97 units this week.

Meanwhile, the bonds in the local over-the-counter market they fell an average of 0.2% due to rearrangements of positions due to selective short-term profit-taking, after losing 0.3% the day before and accumulating an improvement of 7.2% in the previous five sessions.

The country irrigation Argentine made by the JP Morgan bank rose five units, to 2,388 basis points after local noon.

The S&P Merval index reaches a new nominal record (Reuters)
The S&P Merval index reaches a new nominal record (Reuters)

The bill goes back one peso

The free dollar drop a weight in City Buenos Aires and reduced its advance for the week to $14, after strong movements in the last wheels. Thus, the currency takes a break at the highest values ​​since last July.

Meanwhile, the buying pressure continues in the financial dollars with the MEP dollar at $319 and the dollar counted with liquidation at $332 per unit.

The free dollar stops its advances at the end of the week (Reuters)
The free dollar stops its advances at the end of the week (Reuters)

Free dollar opens unchanged

The ticket in the informal market is trading at $307 for sale and $304 for purchase, the same closing values ​​as yesterday.

Financial prices, meanwhile, do not show great variations either. The MEP dollar is operated at $319.66 and the counted with liquidation at $332.40, very close to Thursday’s closing levels.

With the dollar wholesaler at $163.14, 35 cents above the previous day, the currency gap thus amounts to 88 percent.

The Government before a key issue of debt in pesos: what is at stake in today’s tender

Today the Treasury seeks to renew some $165,000 million in maturities, on days when the local currency debt market shows signs of exhaustion. Each peso of debt that the Treasury obtains is one less peso that the Central Bank must issue

Stock Photo - Facade of the Ministry of Economy of Argentina, in the center of the city of Buenos Aires.  June 18, 2014. REUTERS/Enrique Marcarian
Stock Photo – Facade of the Ministry of Economy of Argentina, in the center of the city of Buenos Aires. June 18, 2014. REUTERS/Enrique Marcarian

This Friday one of the key matches of the fixture that the Minister of Economy will face, Sergio Massato close the financial program for the year without imbalances in the debt market in pesos that generate a new episode of exchange and inflationary instability like the one that took place last June and that ended with the exit of Martin Guzman from the Palacio de Hacienda at the beginning of July.

The free dollar closed at $307 yesterday

The free dollar A peso fell to $307 this Thursday, after four rounds of currency awakening in the informal market that led it to earn $14 so far this week after months of stability.

The dollar counted with liquidationon the other hand, continued under upward pressure and rose again, in this case seven pesos, to reach $332 while the MEP dollar it climbed almost $10 on the day and ended at $321 pesos.

The central bank scored the second consecutive wheel without sales and ended up buying USD 3 million.

Economy goes out to refinance maturities of debt in pesos and seeks to attract banks with a 2027 bond adjustable by the increased Badlar rate.

The argentinian shares they fell as much as 5.2% on Wall Street while dollar bonds fell as much as 3.2%.

The free dollar advances $14 so far this week (Roberto Almeida)
The free dollar advances $14 so far this week (Roberto Almeida)

Firm demand for alternative dollars in an exchange day of tension and rumors

Businesses in the financial quotes segment were around USD 250 million, a volume that according to market memoirs may be an absolute record

The MEP dollar grew 7.18% in 17 days.  It exceeds November inflation, interest rates and the devaluation rate.  REUTERS/Sukree Sukplang
The MEP dollar grew 7.18% in 17 days. It exceeds November inflation, interest rates and the devaluation rate. REUTERS/Sukree Sukplang

Two issues upset investors yesterday. Rumors of the resignation of Vice Minister of Economy Gabriel Rubinstein, during the hours the markets were open, and what Cristina Fernández de Kirchner would say after 7:00 p.m. at the La Plata event. The nerves were resolved with a strong demand for alternative dollars that led to official calls to stop operating “cable”, as cash with liquidation is called.

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