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Sunday, November 27, 2022

Argentine shares on Wall Street fall up to 3.9% and S&P Merval also yields

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Among the stocks that fell the most, those of Central Port (-3%); Banco Macro (-3%) and Ternium (-2%).

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.

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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.

While, the shares of Argentine companies listed on Wall Street fell by up to 3.9% thanks to Despegar. Behind are the papers of Central Puerto (-2.9%) and those of Banco Macro (-2.8%).

Bonds and country risk

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In the fixed income market, dollar bonds are trading higher. Among them, the Bonar 2038 and 2030 (+2.1%) and the Global 2030 (+2.1%) stand out.

For its part, the country risk measured by JP Morgan banking falls 39 units to 2,550 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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