The day’s declines were led by shares in Banco Macro (-1,9%); Mirgor (-1,5%), e YPF (-1,3%). On the contrary, among the few papers that closed with an upward trend appeared Black Hill (+3.3%); Central Port (+1.1%); and Edenor (+0.9%).
Domestic assets extended the weakness as a result of the lack of news regarding an agreement with the IMF. This “It accentuates the uncertainty in view of the fact that 22-M (March 22) continues to approach”, said Gustavo Ber, economist at Estudio Ber.
“A volatile market is expected in the coming weeks, especially without rumors of a rapprochement between the Government and the IMF”, estimated Personal Investment portfolio. “The vision of some analysts about differences between the two parties that are difficult to reconcile for March has been hitting the valuation of Argentine assets in both local and foreign panels,” he added.
In the first quarter of 2022, the country will have to pay around 4,000 million dollars to the IMF and another 2,000 million dollars to the Paris Club due in March.
For its part, the consulting firm Delphos Investment estimated that “The negotiations will have to have a significant dose of pragmatism to reach an agreement before the maturities of 2.8 billion dollars on March 21 and 22.”
In this context, the chancellor santiago cafiero will meet this Tuesday with the secretary of the United States Department of State, Antony Blink, within the framework of the negotiations that Argentina is carrying out with the IMF.
The financial markets of the United States remained closed due to the commemoration of Martin Luther King Day.
bonuses
In the fixed income segment, bonds denominated in dollars do not stop falling and they lost this Monday up to more than 2%, affected by the public differences between the Government and the IMF. Among the main losses of the day, the Bonar 2041 (-2.1%); Global 2041 (-1.8%); and Global 2038 (-1.3%).
“Sovereign bonds in dollars have already lost almost 10% on average at the start of 2021. These are reflecting the combination of few reserves with uncertainty about the negotiation with the IMF, worse prospects about the harvest, and an external context where the major central banks are shifting towards less loose monetary policies,” commented Roberto Geretto of Fundcorp.
The sovereign securities in dollars fell in all rounds of the year, with the exception of last Wednesday, when they closed mixed.
In the segment in pesos, bonds tied to inflation registered increases of up to 3.4% (Quasipar), after knowing last week the inflation data for December (3.8%) and for all of 2021 (50.9%). In the month these titles accumulate rises of up to 8.1%.
In this context, The Argentine Country Risk closed on Friday at 1,882 basic points, maximum in a month and a half, after accumulating a rise of 10.8% in the first two weeks of the year.
Source From: Ambito
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