The actions in the Leader Panel closed lower, with declines of up to 4%. Among the main falls were Sociedad Comercial del Plata, BYMA, and Pampa Energía, with decreases of 2.7% and 2.4% respectively. On the other hand, there were advances in Metrogas, with a 5.6% increase, and BBVA, with a rise of 2.1%.
Regarding the papers traded on Wall Street, losses of up to 2.4% were observed, led by Pampa Energía, followed by Cresud and IRSA. The possibility that the Government may access a REPO loan, refinance the SWAP with China, and receive dollars from the Capital Amnesty propelled bond prices up to 3%. The Country Risk rate also decreased by 5.30%, settling at 914 basis points, levels last seen in August 2019.
The good financial climate was reflected in the increase in dollar-denominated bond prices, with rises of up to 3.1%. Banking entities saw the most significant increases, such as BBVA with 2.7% and Supervielle with 1.1%. According to a report from Capital Economics, investor optimism toward Argentina has improved in recent months, creating positive expectations regarding the government’s ability to meet its debt payments next year.
The decrease in inflation, projected between 2.8% and 3.2% for October, coupled with a slowdown in the depreciation of the exchange rate and the Central Bank's reserve purchases, leads some market participants to foresee the sustainability of this scenario for several months. Despite these encouraging reasons, the S&P Merval index experienced a decline of 1.1%, settling at 1,851,913.76 points, after having recorded a notable increase the previous week.
