The rises of Argentine papers on Wall Street are led by Take off (+ 4.3%); and Pampa Energía (+ 4.1%).
For its part, the leading index S&P Merval de Bolsas y Mercados Argentinos rose 2.5% to 83,993 units, after losing 1.6% on Monday and losing 2.6% last week.
After the legislative rejection of the 2022 Budget project, the Government faces slow negotiations with the IMF to refinance some 45,000 million dollars, amid fears of the global advance of the Ómicron strain and the eventual increase in rates in the United States.
Business is still conditioned by “the delays in the negotiation process to restructure the debt with the IMF and the conflicts in Congress are added to approve the budget for next year”said Fernando Staropoli, account executive at the Rava Bursátil brokerage.
Meanwhile, in the face of annual inflation that will be around 50%, operators do not rule out a close increase in the Central Bank’s reference rate, a level that has long remained at 38%
In fixed income, sovereign bonds in dollars operate with a majority of losses.
Argentina registered a primary fiscal deficit in November equivalent to 0.3% of GDP, while in the year it expands to 2.1% of PIB, compared to the 3.5% budgeted by the Government. December is always a month in which, due to seasonality, state spending skyrockets.
In turn, the Country Risk, prepared by the JP Morgan bank, it fell six points to 1,742 basis points.
For its part, CER-adjusted peso bonds maintain demand and rise up to 2%.
Source From: Ambito
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