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Thursday, December 1, 2022

Argentine shares on Wall Street rise up to 3.6% and S&P Merval operates near its record

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Among the actions that have made the most progress are those of Cresud (+2.5%); Edenor (+1.9%) and Aluar (+1.9%).

The S&P Merval “reached a new all-time high, around 154,000 points, but could find support at 147,500 points. This index tries to return above 150,000 points, but the all-time high at 154,000 points could act as resistance “, said Alexander Londoño, an analyst at ActivTrades.

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Pampa Energía, the third largest gas producer in the Neuquén basin in Argentine Patagonia, plans to invest 550 million dollars in 2023 to increase its unconventional production in the Vaca Muerta formation, said the company’s president, Marcelo Mindlin.

It should be remembered that The stock market activity of Argentina (BYMA) is extended from this Monday in 60 minutes, from 11:00 local time (1400 GMT) to 18:00 local time (2100 GMT)to align the operation to the Wall Street boreal winter schedule.

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While, shares of Argentine companies listed on Wall Street rise up to 3.6% thanks to Loma Negra. Behind are the papers of Central Puerto (+2.2%) and Ternium (+1.5%).

Bonds and country risk

In the fixed income market, dollar bonds trade slightly higher. Among them, Bonar 2030 (+0.8%) and Global 2030 (+0.6%) stand out.

For its part, the country risk measured by JP Morgan banking rises 22 units to 2,589 basis points.

The Ministry of Economy will seek to capture some 32.9 billion pesos through a letter tender this Monday, with the focus on validated rates. Operators do not rule out the imminent official announcement of an exchange of titles in pesos, with the aim of relaxing maturities in the final stretch of the year.

Source: Ambito

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