Under a climate of strong exchange pressure due to hedging that caused the blue dollar to shoot up beyond $300, hard currency bonds posted increases of up to 3.5%led by the Global 2035. Added to the podium of the greatest advances was the Global 2030 (+2.2%); and the Bonar 2035 (+2.2%).
The growing uncertainties about the future of the local economy and political tensions, which led to the appointment of the heterodox economist Silvina Batakis as Minister of Economy, fuel the nervousness of investors, beyond the rebounds in sovereign securities.
“Investors are still waiting for signs of support within the ruling coalition after the latest economic announcements, since they are essential to try to advance its implementation, especially given the associated political costs”said an economist.
In this scenario, the country risk prepared by the bank JP.Morgan It fell one unit to 2,766 units, after marking a maximum intraday level of 2,824 basis points, compared to a level of 1,083 units recorded in September 2020, when the indicator was reset.
S&P Merval and ADRs
In the porteña bag, the leading stock index S&P Merval remained in positive territory influenced by the improvement of local ADRs listed in New York in the face of a positive external climate.
the leading panel rose 1.7% to 107,185.43 points, with which it accumulates an improvement of 28.4% so far in 2022, well below inflation.
The The day’s rises were led by Holcim (+6.7%); Cresud (+6%); and Transportadora de Gas del Norte (+5.3%). In turn, the most important casualties were recorded by Cablevision (-1%); Mirgor (-0.7%); and Telecom (-0.4%).
On Wall Street, meanwhile, the ADRs of Argentine companies closed unevenlywith raises commanded by Ternium (+5.7%), Cresud (+5.3%); and Mercado Libre (+4.8%), and declines led by Central Puerto (-1.6%); Galicia Financial Group (-1%); and Edenor (-1.1%).
Source: Ambito
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