The most salient increases of the day were registered by the shares of Transportadora de Gas del Norte (+ 4.5%); Grupo Financiero Galicia (+ 3.8%); Comercial del Plata (+ 2.9%); Macro Bank (+ 2.8%); and BBVA bank (+ 1.6%).
For their part, the ADRs of Argentine companies operated with a majority of drops, led by IRSA (-7.3%); Cresud (-5%); and IRSA Propiedades Comerciales (-3.3%). Among the few increases of the day, the Bank’s assets appeared Macro (+ 3.7%); Galicia (+ 3%); and Supervielle (+ 2.1%).
The Minister of Economy, Martin Guzman, He defended for seven hours on Monday before a commission of legislators the 2022 budget project, which does not foresee disbursements to the IMF.
“The lack of progress they perceive since the negotiations with the IMF (…) has quickly deactivated the tactical bets that had been being built on local assets in recent times”, said Gustavo Ber, economist at the consulting firm Estudio Ber.
“The risk is growing that the agreement will lead to a ‘light’ version that only serves to delay maturities, but not to move decisively towards correcting accumulated economic imbalances that are not sustainable”, added.
Argentina, which owes about $ 45 billion to the IMF, should disburse about $ 19 billion in 2022. Next week, it has to pay almost $ 1.9 billion in capital.
In the fixed income segment, dollar-nominated sovereign bonds ended without a uniform trend. The increases were led by the Global 2035 (+ 2.5%) and the Global 2030 (+ 1.5%). On the other hand, the main drops were led by Bonar 2035 (-1.6%), and Global 2038 (-0.6%).
Thus, the Risk country prepared by JP Morgan bank it yielded 1.7% and pierced 1,700 basis points, reaching 1,688 points, compared to the intraday break the day before of 1,759 units.
For its part, the titles in pesos that adjust by CER yielded up to 3% (Even) after INDEC announced this Tuesday the November CPI, which marked a surprise 2.5%, below market expectations, which was projected to reach 3.2%.
Source From: Ambito
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