Pichetto, the man of 5 billion dollars in a day

It is possible that between the afternoon of Tuesday and Wednesday morning, the barons of companies in Argentina, where the names and surnames are distinguished from those of

Paolo Rocca

(Techint), Marcelo Mindlin (Pampa Energía), Miguel Gutierrez (YPF), Eduardo Escasany (Banco Galicia), Guillermo Reca (Central Puerto), Hector Magnetto (Clarin), Javier Madanes Quintanilla (Aluar) and even

Nicolás Caputo,

brother of the president's life and shareholder of Mirgor, have clenched their fist synchronously to celebrate a victory.

Beyond their political tastes, for them and for the shareholders of their companies
Miguel Ángel Pichetto is the man of 5000 million US dollars. The previous statement has everything literal and nothing metaphorical.

In just over 24 hours since the appointment of the Peronist Senator as pre-candidate for the position of Vice President of the formula presided by

Mauricio Macri

The largest companies listed on the Buenos Aires Stock Exchange saw their market value rise by US $ 4831 million. This is a gigantic figure even for those who measure their wealth with generous numbers (this does not include Petrobras and Tenaris because they have the bulk of their business outside the country).

Exposed with rudeness, the numbers indicate that a set of 22 companies was worth $ 34.747 million last Monday. The appointment of Pichetto was announced Tuesday afternoon. The next day, these same companies accounted for 39.579 million US dollars.

The craze between the market and the new formula is more than a shell. Not only did the stock prices rise, but on Tuesday the value traded almost doubled and was at the highest level of the year, which was once again overtaken by the number of the next day. For badysts, this is an obvious sign that the trend is consistent, unlike what could happen when stocks increase, but without performing a lot of transactions.

The jump surprised even the financial operators, not only by the size, but also by the lack of habit. Since the acceleration of the devaluation, last April; the bursting of the bribe notebooks and the upsurge of political quagmire for the improvement of

Cristina Kirchner

In the surveys, the actions of large local companies began a downward trajectory. In fact, the Pichetto effect leaves its capitalization (the market cut, which represents the price awarded by the market to its companies) above the value of December or September, for example, but far from 70 910 million US dollars They were worth it when the economy was still growing.

Why was Pichetto so good for business? A thorough investigation can be inexhaustible because no one ultimately knows what is called the actual contour of the market form. But some explanations emerge almost spontaneously.

"The market sees an extension of the governance of Cambiemos [rebautizado Juntos por el Cambio] with the accession of Pichetto to the consensus that must be made to ensure macroeconomic coherence and structural reforms in 2020.
This generated a low risk for the country, the dollar and the interest rate, which gave an impetus to the actions ", summed Federico Furiase, director of EcoGo, the same opinion is Fausto Spotorno, of the studio Orlando J Ferreres.

The so-called reforms are three in number: labor, social security and taxation. Businessmen increasingly agree on the need to move forward to reduce costs in Argentina and leave the country in a situation more similar to that of Brazil, where part of the task had been initiated by former President Michel Temer and whom he hoped to complete. his successor, Jair Bolsonaro.

At the press conference that he held a few minutes after his appointment, Pichetto was imposed in capitalism. It started at 5:08 pm on Tuesday. At 17:10, he declared that he "shared with the government a capitalist vision, a topic that is no longer discussed in the world: a modern and intelligent capitalism, which defends the domestic industry, but which exports, which opens markets ".

Eight minutes later, Pichetto said that he supported "the continuity of state actions, predictability, compliance, unilateral non-compliance, far from the extreme situations that plunge us back into l & # 39; isolation ".

While the Pichetto lecture
began after the markets closed, the news had begun to spread at least an hour and a half before 5 pm market closing time, so that part of the news was finalized in terms of digestion the next day.

The financial world reacted favorably to the storytelling of the senator. Pampa Energía was one of the big winners, with a jump of more than 22% from Monday to Wednesday, although behind Banco Supervielle and Metrogas.

The correlation between uploading their articles and distributing news is point by point. At around 15:15, Pampa papers were curling at US $ 28.30 in the United States. At 3:38, the new presidential formula began to circulate. At the time of closing, an hour and forty later, it reached 29.85 USD and the rising cycle did not stop until the next morning.

Nobody was red that day, to the point where the one who progressed the least, YPF, has increased by 8% in his papers. And even the company that includes Caputo, entangled in the complexities of the Fueguian industry, has appreciated nearly 10%.

The recovery of the financial variables on Tuesday afternoon was so fast that the candidate for the position of Vice President even had time to reflect on the subject, which he was well informed. At the press conference, he said: "The market reads policy, badyzes political events, perceives messages and the market, and, fundamentally, New York, mutual funds, bonds, have experienced growth very sensitive and extraordinary 3.4%, and the country risk has dropped 40 points, indicating that the presidential decision has been properly badimilated by the markets.

Finance does not speak the voluntarist language of politics, according to Pichetto, and the leader himself is defined as a person whose temperament has no place for emotions, but for rationality. Although the communion between the two is already sealed, President Cristina Kirchner reinforces it a few hours later. In the presentation of his book "Sincerely" in Santiago del Estero, he acknowledged that he understands less and less "these capitalists". Another pressure for the market to define a vote that I had already decided.