“The illusions about a better end of the year are growing, with the signing of an agreement with the IMF, for example. Local assets rebounded strongly not only because of this, but because abroad it was beginning to analyze that the new omicron strain of Covid -19 seems not to be so lethal “, synthesized a financial agent of the foreign bank.
The Government also confirmed that Argentina will make the payment of some US $ 1,880 million to the Fund on December 22.
Ayelén Romero, account executive at Rava, said that when determining the factors that drove local markets “it is difficult to choose a single protagonist” although she stressed that “we could consider today’s wheel as the beginning of the reaction after the Guzman’s official announcement on the payment to the IMF “.
In this context, BYMA’s S&P Merval Index bounced 7.5%, to 85,242 points, after losing more than 5% in November. It was his biggest daily rise in pesos in almost 17 months. The biggest increases were enjoyed by Central Puerto (+ 14.2%), Pampa Energía (+ 11.8%) and Grupo Financiero Galicia (+ 10.9%).
Meanwhile, among the shares of local firms listed on Wall Street, the improvements in the papers of Irsa (+ 13.4%), Irsa Propiedades Comerciales (+ 8.6%) and Galicia (+ 8.6%) stood out. .
The US stock market began the bullish wheel, but as the hours passed the vast majority of assets turned negative after Joe Biden’s government officials said that the omicron variant had been found in the country.
Bonds and Country Risk
In the fixed income segment, sovereign bonds in dollars posted strong recoveries. Particularly noteworthy were the improvements in the prices of bonares AL30 (+7,4%), AL38 (+ 6%) and AL41 (+ 5.6%).
These important increases are reflected in Country Risk, measured by JP Morgan bank, which fell 3.8% (87 units) to 1,825 basis points.
It should be remembered that securities in hard currency came from registering drops of up to 17.8% last month, with prices considered at default levels.
Source From: Ambito
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