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 closed with a majority of drops, led by IRSA (-7.7%); Cresud (-4.8%); and Transportadora de Gas del Sur (-3.3%). Among the increases of the day, the Bank’s assets appeared Macro (+ 2.6%); Galicia (+ 2.5%); and Edenor (+ 1.4%).
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.
For its part, Wall Street closed lower on Tuesday after data emerged that showed producer prices rose more than expected in November, consolidating the expectations that the The Federal Reserve announces a faster reduction in its asset purchases this week.
The rapidly spreading omicron variant of the coronavirus, too has dampened investor sentiment after the S&P 500 Index hit an all-time high at the close of last week.
The declines were led by technology-related large caps, with Salesforce.com, Microsoft, Adobe and Alphabet trailing the S&P 500 and the Nasdaq. Apple was down 0.8% but ended far from its session lows after the iPhone maker said it would require customers and employees to wear masks in its stores as COVID-19 cases rise.
A) Yes, The S&P 500 lost 34.04 points, or 0.73%, to 4,634.30, while the Nasdaq Composite fell 171.54 points, or 1.11%, to 15,241.74. The Dow Jones Industrial Average fell 99.45 points, or 0.28%, to 35,551.50 units.
“The COVID plus inflation is the Grinch who stole Christmas”, said Jake Dollarhide, CEO of Longbow Asset Management. “I’m not underestimating the fact that there are some big names on the Nasdaq giving up some of their big gains. When the leaders fall, it’s not a good sign.”
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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