Argentine assets closely follow the elections in the United States. Although Wall Street operates with new hours starting this week, the market trend is already palpable.
It can already be felt that this Tuesday, November 5, the focus of the market will be on the elections in the United States in which Donald Trump and Kamala Harris compete for the presidency of the northern country. But, also, this week is balance sheet season on the local stock market.
Puente Inversiones reported that, on the day before the United States presidential elections, sovereign bonds in dollars with foreign legislation closed with a slight increase of +0.1%, in the same direction as debt in emerging markets. For their part, those governed by local law showed an average increase in their prices of +0.6%, highlighting the AL29 bond (+1.5%).
“The local market will be attentive to what results from the actions in the United States and what we see, so far, is a lot of strength in the demand for bonds and in stocks, above all, in the demand from abroad, beyond the foreign cycles,” Diego Martínez Burzaco, Country Manager, tells Ámbito. from Inview. And he points out that expectations of economic improvement may favor the continuity of this trend in the short term.
For its part, Andrés Reschini, analyst at F2 Soluciones Financieras, points out that “the market is going to try to be cautious, attentive to the presidential election in the United States, but without taking its eyes off what is happening at the local level”, but points out that, if there is no relevant news at the domestic level, What happens at the international level will take precedence.
The presentation of balance sheets of local companies advances
At the local level, without a doubt, the focus will be on the presentation of balance sheets. “Transener (TRAN) and Transportadora de Gas del Sue (TGSU) have already left and presented good balances, but already discounted in prices,” he highlights. financial analyst Daniel Osinaga to Scope. Although in recent days there has been enthusiasm in the market for Argentine assets, for the market expert, Argentina “reached a ‘fair value’ and even some companies went too far, such as banks that operate with prices that double the book value”.
This, according to his vision, will cause there to be a rearrangement forward And to that “is added the fact that they are going to have to become banks again and not live off the interest of the Central Bank (BCRA).”
News in development.-
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
