S&P Merval rose 1.1%, and the country risk rose 1.6%

The S&P Merval index of the Bolsas y Mercados de Bolsas y Mercados Argentinos (BYMA) rose 1.1% to 30,809 units, up 21.6% for the month. The principal increases were Grupo Supervielle (8.2%), Comercial Del Plata (7.7%) and Telecom (3.2%). In the fixed income segment, the leading dollar bonds closed with decreases as country risk - measured by JP Morgan - rose 1.6% to 2,794 units. Bonar 2024 fell 1.6%, and Bonar 2020 fell 1%, while the Discount under Argentine law rose 0.4%.

YPF went out for $25 mn and got $100 mn

YPF raised $100 million on the local capital market yesterday. The company had set a target of $25 million and reflected the confidence in YPF among local investors. It achieved this result by issuing a new 18-month dollar link series of $93 million at a 0% rate and the remaining $7 million in a Class III reopening in pesos due in December of this year.

BlackRock recommended lowering the counteroffer to a range of $50-55 average net present value

The debt negotiation took a new turn after one of the core investment funds in the process, BlackRock, gave a signal in favour of bringing positions closer to other investors and the Government in an attempt to close a deal. The average value of the offer presented by that group to the Government is 59 dollars at a discount rate or exit yield of 10%.

UNICEF estimates that 700,000 children will fall into poverty

UNICEF estimates that by the end of this year, 700,000 children would fall below the poverty line, as a result of the drop in activity in Argentina. Currently, monetary poverty among children reaches 53%, according to INDEC for the second half of last year. Based on GDP-poverty elasticity projections, UNICEF Argentina's technical team believes that by the end of the year this percentage will reach 58.6%, which implies that there will be 7.7 million poor children in the national territory.