Among the gains of the leading panel, those of the energy sector stood out; shares of Transportadora de Gas del Norte jumped 10.8%those of Transportadora de Gas del Sur 6.3%, and those of YPF 6%.
It is worth noting that during the day the price of oil reached its highest daily rise in a month. Although on the closing of the market the values fell, the price is close to the maximum since 2014.
Likewise, on Wall Street, ADRs also exhibited the majority of increases, led by the financial sector. Only Mercado Libre and Ternium posted declines.
This last case occurred after the steel company reported a profit of $36,417 million in the quarterly balance, a result that represented a year-on-year growth of 158% but a slowdown compared to the previous three months, largely due to a drop of 7%. in shipments as a result of a decrease in exports, partially offset by the rise in the local sale price.
Faced with public tensions within the government coalition, Economy Minister Martín Guzmán affirmed that he will send the project to parliament, in agreement with the IMF, its “annexes that will contain all the documents” and “details”, to clear up doubts about that something could be hidden given the postponement of maturities for something more than 40,000 million dollars.
“The parliamentarians are going to vote for the best for Argentina,” said Juan Manzur, chief of staff of President Alberto Fernández, during the financial session.
Beyond its approval in the Argentine Congress, the understanding must be dealt with later by the board of directors of the international credit organization, where there are also differences.
“Investors remain attentive to parliamentary negotiations in search of obtaining the necessary support to approve the agreement,” said economist Gustavo Ber. “This validation happens soon, it is important in order to be able to close said understanding and also before the next maturities of March 22 (for about US $ 2,900 million)”.
Internationally, the minutes of the US Fed did not imply too many novelties, which even caused Wall Street to cut losses at the end of the wheel. The market is still expecting the Federal Reserve to raise rates in March.
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars climbed up to 2.4% after improvements the day before due to speculative taking of positions pending a soon announcement of agreement with the Fund.
“The weighted average price broke through the ceiling of $33 and returned to the levels of the beginning of the month. The indicator rose to $33.50. In this way, today it is located at 11.94% of the post-restructuring minimum. We emphasize that this time it was the 35s that showed a better performance”, detailed from the portfolio company Portfolio Personal Inversiones.
In this context, the country risk prepared by the JP Morgan bank fell 20 units to 1,742 basis points, the lowest since February 2.
The Stonex brokerage warned that “in the coming weeks a decisive cocktail will appear for dollar titles: on the one hand, the eventual start of a war conflict on a world scale or the escape through diplomatic channels, and on the other, the quick approval in Congress of the new agreement with the IMF or the cessation of payments if the ruling party does not get the necessary votes”.
In the curve of bonds in pesos indexed to the CER, most increases are verified after knowing the official inflation data from INDEC. In January, prices rose 3.9%, their highest monthly rate since April 2021. Food recorded its highest increase since the end of 2019, mainly due to seasonal increases in fruits and vegetables, but also with adjustments in other mass consumption products. .
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
