Added to the pressure on emerging economies due to a tougher monetary policy by the Federal Reserve is the European crisis due to the war in Ukraine. Argentina has just closed an agreement with the International Monetary Fund (IMF) to reschedule debt for some US$44,000 million, but doubts persist among market analysts about the fulfillment of goals, which will be controlled quarterly.
“The 92,000 points (of the index) has been acting as a resistance, while downwards the 90,000 points has acted as support of late,” said ActivTrades.
For its part, US stocks rallied as a recovery in growth stocks and strong results from Delta Air Lines offset a drop in JPMorgan bank after reporting a lower quarterly profit.
The Dow Jones Industrial Average is trading up 0.18% to 34,284.09 units; the S&P 500 index gained 0.26% to 4,409.23 units, and the Nasdaq Composite rose 0.86% to 13,485.61 units.
In New York, the papers of Argentine companies climb up to 7% in the hands of Cresud, followed by Despegar (+2.9%), Corporación América (+2.6%) and Tenaris (+2.4%). The declines are led by Edenor (-2.3%), IRSA Properties Comerciales and Transportadora Gas del Sur (-0.6%).
In the fixed income segment, on the other hand, bonds in dollars operate with increases of up to 2% led by the Global 2046, followed by the Bonar 2035 (0.9%) and the Bonar 2038 (0.9%). In loss, operates the Bonar 2041 (-1.4%).
On a key day, securities in pesos adjusted for inflation are trading with increases of up to 1.8% (PARP) and the Boncer 2022 (T2X2). So far this month, these titles accumulate increases of up to 13%, as in the case of Quasipar. The podium is completed by the pair and the Discount with an advance of 6%. “Pending the inflation data for March, the CER bonds (adjusted for inflation) are the main winners, with the ‘TX23’ standing out despite the proximity of its maturity. Different analysts stipulate a significant rise in inflation, as a result of the increase in energy,” said the Cohen brokerage.
By last, the country risk -measured by the JP Morgan- yields 0.2% to 1,730 units, against its record of 1,991 units reached at the beginning of March.
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.
