Beyond the greater calm of this session, ADRs accumulate important increases in the few days that elapsed in December, led by energy sector firms such as YPF (+ 16.5%), Transportadora de Gas del Sur (+ 16.1% ) and Pampa Energía (15%).
It is worth noting that the domestic plaza remained closed for the holiday of the Day of the Immaculate Conception of the Virgin Mary.
The market is optimistic about the proximity of an agreement with the IMF, at a time when there is an Argentine mission in Washington, made up of officials from the Ministry of Economy and the Central Bank (BCRA), which seeks to bring positions closer to the multilateral credit organization.
In a regional conference organized by the Eurasia Group, Juan Sebastián González, director for the Western Hemisphere of the United States, said that “the IMF has learned that you cannot always use a model to prescribe macroeconomic policies in a political environment, you have to recognize the internal context , factor endowment, at the end of the day Argentines have to come up with a plan. “
“Both parties must reach an agreement that is solid on its merits,” he said, estimating that “it could be transformative for Argentina and our bilateral relations.”
In parallel, local assets were also benefited in the last days by a Lower aversion to risk at the international level as a result of greater tranquility in relation to the Omicron variant of Covid-19.
Wall Street posted its biggest daily gain in nine months on Tuesday, fueled by a surge in sentiment after reports from South Africa that the Omicron cases there showed only mild symptoms.
This Wednesday, the world’s leading stock market traded with new increases, after Pfizer and BioNTech said that a series of three doses of their vaccine against Covid-19 showed a neutralizing effect against the new strain in a laboratory test.
In this scenario, Argentina’s Country Risk, measured by the JP Morgan bank, operated stable at 1,698 basis points, close to pre-electoral levels.
Source From: Ambito
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