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Monday, January 30, 2023

ADRs and bonds fell to almost 5%; country risk exceeded 2,380 points

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In the leading panel, local companies traded with the majority of increases, among which stood out Mirgor (+6.4%), Banco Macro (+2.9%) and BYMA (+2.3%). Meanwhile, those that fell the most were Transportadora de Gas del Sur (-1.4%), Cablevisión Holding (-0.8%) and Grupo Financiero Valores (-0.5%).

On Wall Street, for their part, the shares of Argentine companies ended the session with the majority of results in the red, among which stood out Edenor (-6.9%); Cresud (-4.6%); Globant (-4.3%); Transportadora Gas del Sur (-3.5%); and Telecom Argentina (-3%).

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Conversely, the four stocks that closed with gains were those of Macro Bank (1.7%); Black Hill (1%); Ternium (1%); and Tenaris (0.3%).

The Allaria Ledesma brokerage recommended “buying” shares of the Argentine state oil company YPF given its encouraging business outlook, basically in the Vaca Muerta area, in the Patagonian province of Neuquén.

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“We raised the estimated price for the end of 2023 from 5,375 pesos to 8,165 per share (…) The ‘target’ for the ADR is equivalent to 19.45 dollars,” the stock firm said in a report, compared to the 2,621 pesos that The paper is currently quoted in the Buenos Aires market.

Bonds and country risk

In the fixed income segment, securities in dollars culminated with falls of up to 4.9% led by Bonar 2035, followed by Global 2030 (-3.5%) and Global 2035 (-3.5%).

While the titles in pesos with adjustment for CERs advanced an average 0.6%.

In this frame, country risk rose 3.6% to 2,378 basis pointsafter operating below this symbolic value for five consecutive days.

Source: Ambito

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