The oil company registers strong profits both in the local and foreign markets and boosts the S&P Merval, which is trading higher this day.
The ADRs register strong increases in the foreign market, in the lead with YPF which flies almost 7% in Wall Street and accumulates a gain of 63% in the month in dollars, while in the local stock market it rises 9% and advances 58.8% so far in November. This happens after a fiscal and commercial surplus, and? the disinflation process continues.
“Investors’ attention will be focused this week on the last Treasury debt tender for the month of November. Economy faces maturities of about $5.2 trillion, an amount much higher than the last two debt placements,” Bell Bursátil explained.
The unknown of the market is whether or not fixed rate assets (Lecaps and Boncaps) reappear in the menu of instruments that the Treasury will revalue this Monday. Meanwhile, this week you will know new data on consumption in September: sales in INDEC supermarkets, shopping malls and wholesale self-service stores.
In addition, “investors will be waiting to see whether or not the opposition in Congress reverses DNU 846 of the debt exchange, key for Caputo to negotiate with bondholders maturing in October 2030,” they explained from Bell Bursátil. The BCRA will publish on Friday the Report on the Evolution of the Foreign Exchange Market and Exchange Balance.
In that framework, the S&P Merval advances 2.3% to 2,261,823.61, driven by ADRs that advance strongly with YPF in the lead with 6.8%, followed by America Corporation with 4.2% and Black Hill with 3.7%.
Bonds and country risk
Country risk, the index that measures the JP Morgan It rises this Monday and stands at 745 basis points, although during the month it is on track to fall 25%. In this framework, the sovereign debt in dollars falls, and the bonds that lead the declines are: Bonar 2038 (-1.7%), and the Global 2029 (-1.6%).
Source: Ambito
