Against this background, the main increases in Argentine bonds were registered by the energy segment, after the Government announced on Tuesday that it will allow access to foreign currency to hydrocarbon companies that increase their production compared to 2021, despite existing restrictions. in the foreign exchange market. The measure seeks to stimulate the arrival of new investments to develop the energy sector.
Thus, the advances of Transportadora Gas del Sur (+5.4%); VistaEnergy (+4.5%); Central Port (+3.8%); and Pampa Energia (+3.4%). The shares of Cresud (+3.4%) and Mercado Libre (+3.3%) also stepped on strongly, after the 10% drop the day before.
At the other extreme, Bioceres assets appeared (-4.5%); IRSA Commercial Properties (-1.8%); and Telecom (-1.1%).
As announced on Tuesday, oil companies that increase their production compared to 2021 will be able to access foreign exchange for an amount equivalent to 20% of that increase, while gas companies will access on a basis equivalent to 30% of the increase in the injection into gas pipelines compared to the previous year.
“From the macroeconomic point of view, accelerating energy development would allow the country to have more foreign currency with which to sustain economic growth,” explained Economy Minister Martín Guzmán.
On the New York Stock Exchange, meanwhile, the S&P 500 gained 0.94% to 3,980.03 units, while the Nasdaq rose 1.48% to 11,430.86 units. The Dow Jones advanced 0.60% to 32,119.74 units. Electric car maker Tesla and retailer Amazon.com provided the biggest boost to the S&P 500 and the Nasdaq, rising 2.6% and 4.9%, respectively.
Bonds and country risk
Regarding fixed income, sovereign bonds closed with firm gains in the US that, in some cases, reached 0.9% (Global 2038), seeking to recover some ground after the sharp falls of recent weeks .
In the market, it is feared that the next administration may be forced to face a new restructuring in the face of the arrival of growing commitments, or eventually try some reorganization of the debt in pesos in the face of the growing amounts, participation of the CER adjustment and short-term profile .
All in all, country risk fell 0.9% to 1,917 basis points.
Source: Ambito
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