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The bank rose to 8% and Merval scored the highest daily increase in 6 weeks



Amid portfolio adjustments for closing annual positions, the Merval index of the Argentina Stock Exchange and the Market (BYMA) reached 29,519.37 units.

Among the most important increases on that day is the increase Superville Group (+ 8%); Banco Francés (+ 7.3%); and Banco Macro (+ 6.8%).

Beyond the recovery of the local market, today's news is a regulation on changes in Income Tax, including tax on financial income, which reaches a fixed period, bonds and mutual funds, among others.

Size produced a strong rejection between investors and market agents, which are analyzed by resignation tax scope for residents in this country.

"Levies on financial income are not happy, although he wants to moderate by reducing bond losses against interest earned, and liquidation is complicated", reflect a market agent.

Remember that they will pay aliquots between 5% (in assets in local currency) and 15% (in assets with adjustment clauses or in foreign currencies) profits earned in 2018 and that exceeds $ 66,917.

On Wall Street, it was a very volatile day, after a day that began in negative territory and even deeper during the round, but ended with a positive Dow Jones, describing analyst Mauro Morelli.

Wheels for the end of the year are evil for the local market, Merval's struggle for at least does not end with a negative (measured in pesos) in 2018: until Thursday this collected an annual decline of 1.7%.

State bonds and country risks

In the fixed income segment, major state bonds in dollars (against pesos) end in profits. Bonar 2024 rose 0.8%, Bonar 2020 rose 0.5%; and Argentina 2027 up 1%.

However Risk of Argentina, measured by the JP.Morgan bank, does not loosen and rose 2.1% to 837 basis points.

The political risks facing the 2019 presidential election have a major impact on their high weight.

"Since August the country's risk fluctuated in a band between 600 and 800 basis points, approaching the top band when there were polls that gave Cristina de Kirchner the chance to win (in the presidential election) or that two faces Peronism, rational and Kirchner, sent a willing signal make concessions to unite Peronism ", said the Econometrics consultant.


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