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ADRs shoot up to 6.5% on Wall Street and the S&P Merval rises for three days in a row

ADRs shoot up to 6.5% on Wall Street and the S&P Merval rises for three days in a row

A) Yes, the stock index accumulates an improvement of 24.7% in the first sessions of 2023. The biggest gains from the leading panel are for Transener (+7.7%), Telecom (+7.5%), and Transportadora de Gas del Sur (+5.8%).

For their part, Argentine papers listed on Wall Street rose up to 6.5% thanks to Telecom, Supervielle bank (+6.3%) and Irsa (+6.1%). On the other hand, the drop in Globant with 4.4%.

Bonds and country risk

In the fixed income segment, sovereign bonds in dollars operate mixed. The biggest drop is for Bonar 2041 (-1.3%), and the main rise is for Bonar 2030 (+1.3%). The country risk prepared by the JP.Morgan bank rises 0.4% to 1,832 units.

“The devaluation of the official exchange rate sped up a rate of 5.3% per month. The gap Come in the official dollar Y the financial dollar implicit in the ‘GD30’ bond, which was close to 80%, expanded despite interventions on this bond by public bodies,” said clearing and settlement agent Cohen.

And the report added: “In response, the bond buyback program allowed a large rise in global bonds in dollars, thus achieving a consequent daily stabilization of financial dollars”.

This happens within the framework of what was announced by the Minister of Economy Sergio Massa who said last week that the country will carry out a foreign debt repurchase for some US$1,000 million.

“On Tuesday (the market) presented the second largest volume traded in the (bond 2030) ‘GD30C’where, in our opinion, the greatest intervention by the central bank (BCRA) appears”, said Portfolio Personal Inversiones and added: “Based on the volume operated in BYMA (Bolsas Y Mercados Argentinos) in cable dollars, we believe that the total amount allocated by the BCRA, for the moment, would reach around US$258 million (until January 24)”.

Source: Ambito

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