Argentine assets that operate in premarket advance positively as a first reaction after the results of the runoff election.
The ADRs that are listed in Wall Street rise up to 13% this Monday, November 20 after the results of the ballot that consecrated Javier Milei as the next president. Meanwhile, sovereign bonds in dollars are also advancing positively.
Argentine papers rise in premarket up to 13% led by YPFfollowed by Pampa Energía (12.49%), Grupo Supervielle (11.71%), Black Hill (9.43%), Cresud (9.06%), BBVA (8.84%), Telecom Argentina (8%). While Macro Bankadvances more moderately to 1.73%.
For their part, the sovereign bonds in dollars They climb 3% led by Global 2046 (2.45%), Global 2041 (1.98%), Global 2029 (1.79%) and Global 2035 (1.70%). In this context, it is worth remembering that this Monday, November 20, is a national holiday for Sovereignty Day.
“The president-elect must dissipate the different sources of uncertainty that affect Argentines. He must put on the leader’s uniform from moment zero,” said Pablo Besmedrisnik, director and economist of Invenómica.
“Today’s instability and the sudden changes that are coming in the different Macro variables are a fact. That is why it is important to describe the situation crudely, but at the same time indicate the first signs of an action plan that will end up forming the necessary stabilization plan“, he claimed.
“It seems to me that it goes have to see some correction but we have to wait for Milei to say (as president, since) many segments of the market were adapting to a victorious Massa,” said analyst Salvador Vitelli.
It is to be expected “a dollar a little more launched and futures a little hotter,” he claimed. “Milei’s speech and the signals he gives will be important, whether it is an ‘incendiary’ Milei like the PASO (August primaries) or a ‘tame’ one in the general elections (October). The latter could be well interpreted by the market,” said Roberto Geretto of Fundcorp.
Source: Ambito
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