Among the gains, those of Pampa Energía (7.6%), YPF (6.5%) and Central Puerto (5.3%) stand out, in a context in which crude oil prices are entrenched above $100 and hit new highs since 2014. In a similar vein, YPF leads the rises among local stocks listed on Wall Street (ADRs).
President Alberto Fernández said Tuesday in his opening speech at the regular sessions of Congress that he hopes to send the agreement to the IMF this week for legislative approval. “The “light” characteristics of the agreement with the IMF are highlighted again,” said Roberto Geretto of Fundcorp.
“All of this reinforces the market’s idea that this is a minimum agreement to avoid a default with the IMF and further macro deterioration, but it is far from changing expectations or providing a shock to confidence,” Geretto added.
Regarding fixed income, sovereign bonds in dollars start the month with most setbacksled by a 3.5% drop in the Global GD35.
In this framework, the country risk measured by JP Morgan registers an increase of four units and stands at 1,846 basic points.
Source: Ambito
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