The leading S&P Merval Argentine Stock Exchange and Market Index (BYMA) rose 2.7% to 26,003 units, after concluding the previous session with a 3.5% rise, to accumulate a 6.6% gain so far in April (which contrasts with a 30.3% decline in March). In the fixed income segment, the leading sovereign bonds in dollars rose to over 6%. Argentina’s country risk, as measured by JP. Morgan fell 115 units to 3,828 basis points, compared to a level of 4,519 points more than a week ago.
The tourist dollar – with a 30% surcharge for the Country Tax – fell 13 cents this Thursday to 86.46 pesos. In the Single and Free Market (MULC), the currency rose 19 cents to 64.72 pesos. The liquidation counted dollar (CCL) – obtained from the purchase and sale of shares or bonds – rose 89 cents to 88.81 pesos, widening the gap to 37.2%. The BCRA’s International Reserves rose this Thursday $43 million to $43.632 million.
After suffering a 55% loss in March, this Thursday the price of the US WTI barrel rose 24.7% to $25.32, while London Brent climbed 21% to $29.94; after Donald Trump announced a possible agreement between Saudi Arabia and Russia, which would end the price war.
According to the latest report from the Buenos Aires Grain Exchange, the soybean harvest could be under 130 million tons. Between 12% and 15% less than last year. The entity’s data includes falls of 50 million tons of corn, 3.4 million tons of sunflower and 2.5 million tons of sorghum.
Argentina’s tax collection in March reached 443,636.7 million pesos ($6.8 billion), representing an overall real decline of 8%, taking monthly inflation of 2.4%, which is up to 17% lower than the Consumer Price Index (CPI) of the last 12 months. Under the same percentage, the contraction in VAT was 13.7%.