“El Merval continues the bullish streak in December and accumulates increases of 7.2% in pesos and 13.3% in dollars according to the ‘cash with settlement’, recovering a large part of what was lost since the electoral ‘trade’ (of November), “said consulting firm Cohen.
Investors, meanwhile, are closely following the slow negotiations with the IMF to reschedule a million dollar debt and the news surrounding the increases in Covid-19 cases both in Argentina and in the rest of the world.
It should be remembered that the weekly financial activity in Argentina will last until Thursday, due to the holiday of December 31, the last day of the year.
Meanwhile, Local shares listed on Wall Street show the majority of increases, particularly those of Edenor (+ 3.5%), Pampa Energía (+ 3.2%) and Despegar (+ 3%).
Bonds
For its part, sovereign bonds in dollars extend their gains from the previous day and this Tuesday show increases of up to 1.7% in their prices. The performance of the securities issued under local law is particularly noteworthy.
In this frame, the Country Risk measured by the JP.Morgan bank falls 24 units (-1.4%), to 1,719 basis points. In this way, it registers its biggest decline since December 7 and is at a seven-wheel low.
Yesterday, sovereign securities in dollars registered increases of up to 3.8%, with good performances both among securities issued under foreign law and among those launched under Argentine law.
Fixed income represented 67% of the total traded in the domestic market and GD30 global bonds were the ones that generated the most volume in the retail market.
Source From: Ambito

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