The day’s rises in Argentine papers on Wall Street were starred by Free Market (+ 6.5%); Take off (+ 6.2%); and Central Puerto (+ 5.2%).
In the accumulated monthly, the podium of the highest rises is entered YPF (+ 16.5%); Pampa Energía (+ 15.6%); and Transportadora Gas del Sur (+ 15.2%).
Faced with this panorama, the S&P Merval index of Bolsas y Mercados Argentinos (BYMA) gained 1.2%, to 89,313 points, after accumulating a rise of 2.2% on Monday and climbing 7.5% during the previous week.
Argentina talks with IMF officials on technical matters to renegotiate a loan for about 45,000 million dollars, which aroused the enthusiasm of investors for a possible next agreement.
But beyond the local situation, an increase in the appetite for risk assets also helped Argentine papers in the face of fewer fears for the omicron variant of coronavirus.
Global stocks and oil rose as traders dumped currencies and safe-haven bonds for a Increased confidence in reports from South Africa that omicron cases there had only shown mild symptoms.
On the other hand, the stock market company Allaria Ledesma y Compañía He reported with the “buy” rank his follow-up on the shares of Irsa Propiedades Comerciales, Irsa Inversiones y Representaciones and the agricultural company Cresud.
Country risk and bonds
The Argentine Country Risk falls this Tuesday for the fifth consecutive day and is approaching pre-electoral levels, being very close to 1,700 points, in the midst of another strong rise in Argentine bonds, before the enthusiastic investor for the negotiations with the IMF.
The index measured by JP Morgan it falls 2% to 1,712 basis points, its lowest level in three weeks. So far this month, this indicator accumulates a decrease of almost 10%.
For their part, dollar bonds extend upward rally, gaining up to 3.5%, with increases led by Global 2041. Other notable advances were recorded by Bonar 2035 (+ 3.1%); and the Bonar 2041 (+ 2.6%).
“Rumors of progress on an understanding with the IMF are what is pushing bond prices the most. Also, today is a very good day internationally with an improvement in risk appetite. It is the best possible combination. “, commented to Ambit Nery Persichini, chief economist at GMA Capital.
Source From: Ambito
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