“There are buys on well-liquid stocks as inflation hedges and the latest economic data that paints a tough future for the economy,” a trader said.
The Argentine ADRs on Wall Street they fell as a whole, led by Galicia (-2.4%), Ternium (-1.7%), Pampa (-1.6%) and YPF (-1.6%).
Economic activity (EMAE) fell by 1.2% year-on-year in December 2022 and inflation is set to return to around 100% this year, amid a significant lack of foreign currency at the central bank, which is accentuated by a long drought that affects the countryside.
the oil company View reported that it obtained a net profit of 269.5 million dollars in 2022, which represented a year-on-year jump of 432%.
The acceleration of consumption in the United States revitalized fears of strong rate hikes by the Federal Reserve.
Bonds and country risk
In the fixed income segment, the dollar-denominated sovereign bonds fall, led by Global 2046 (-6.4%) and Global 2035 (-1.8%). While titles in pesos operate with increases of up to 1.6%.
He Argentine country risk rises 1.3%, up to 1,999 basis points.
Source: Ambito
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