The stocks leading the rise are: YPF (+3.7%); Ternium (+2.4%) and Transportadora de Gas del Norte (+1.6%). While the casualties are led by: Loma Negra (-2.1%); Central Puerto (-1%) and Banco Supervielle (-0.7%).
Argentina, as the third economy in Latin America, supports a retail price escalation of around 100% by 2022 and a devaluation of the wholesale peso that rose to 6.11% last month.
It should be remembered that the local stock market led the increases in October by serving as a hedge against inflation and the depreciation of the peso, which accelerated its fall this month while sovereign bonds had repurchases from official bodies. In this framework, shares and bonds in dollars rebounded in October up to 40.5% thanks to the firm Vista.
“The signs coming from inflation are not very auspicious, at least for the developed economies, since they have been showing signs of resilience that may end up permeating inflation expectations,” Balanz summarized.
While, the shares of Argentine companies listed on Wall Street rise up to 4.2% this Tuesday. Among the rises, the papers of Despegar stand out (+4.2%); YPF (+4%) and Mercado Libre (+2.7%).
Bonds and country risk
In the fixed income market, dollar bonds operate with disparity this Tuesday. The increases are led by Bonar 2029 (+2.4%); the Global 2030 (+0.6%) and the Bonar 2030 (+0.3%).
While the casualties lead them Global 2035 (-4.3%); the Global 2029 (-2.2%) and the Bonar 2035 (-1.4%).
Meanwhile, in a complex context and pending a new increase in rates by the Federal Reserve, the country risk measured by the JP. Morgan bank falls 29 units or 1.1% and closed at 2,596 points.
Source: Ambito
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