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a leading stock soared more than 13%

He S&P Merval bounced this Thursday, February 1, after erasing an initial drop and registering a drop in the previous round. This happened on a day in which the market focus is on the omnibus law debatewhich this Thursday resumed in the Chamber of Deputies.

In that framework, the leading panel actions they ended with generalized increases. Among those that rose the most, stood out Silver Commercial Societythat climbed 13.4%. Those who followed him among those who advanced the most were Southern Gas Carrier (+5.4%) and Cresud (+5.1%).

Argentine shares on Wall Street

Meanwhile, Argentine stocks listed on the New York Stock Exchange (NYSE) have a positive session. In this framework, the most notable increases are those of Take off (+5%), Supervielle Group (+4.8%) and Macro Bank (+2.5%).

For its part, the only Argentine stock that goes down in Wall Street is the ADR of Bioceres that yields 0.2%.

Positive day for Argentine stocks: in what context?

Investors’ attention once again focused on the Congresswhere the Government of Javier Milei seeks the approval of key laws to implement its economic plan.

Between intense negotiations to advance the call omnibus lawwhat includes company privatizations, co-participation to provinces and delegated powersthe Government resumed its discussion in Parliament this afternoon after a fourth intermission arranged last night.

Milei eliminated the tax chapter of the original project with the objective of achieving political agreements and continuing with its proposal for changes.

In that framework, The leading stock index S&P Merval traded higher. “The forecasts Looking ahead to the next few months they are not positive and continues the corrections trendgiven the sustained deterioration of macroeconomic variableswhich this generates expectations of acceleration of inflation and economic stagnation“, said IOL InvestOnline.

For their part, the Sovereign bonds in the over-the-counter market they improved 1.2% averagein a selective trading plaza, with a country risk that stood at 1,959 units as of the closing of the local market.

For its part, the credit agency S&P Global said he sees risks in local debt swaps this year that could increase non-payment scenarios.

He International Monetary Fund (IMF) extended the duration of the credit program with Argentina by US$44,000 million for three months to give the new government time to implement the current program to stabilize its economy and accumulate reserves, one day after it will approve and release funds following a review of the program.

With the funds unlocked by the IMF, the January principal maturity payment for about US$1.9 billion and today there will be a interest payment for about US$800 millionHe said SBS Group.

For his part, the central bank (BCRA) managed to buy from the wholesale market US$85 millionafter on the eve had to part with 10 million to meet market demand, cutting a string of 35 consecutive days of purchases. In January, the entity managed to raise 3,273 million dollars for its reserves.

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