The local and foreign equity segment operates with strong increases, in a day of bad business climate in the main reference markets.
By Marcos Phillip
10/04/2023 – 14,20hs
The Buenos Aires stock market advances 1.67% and stands at 256,469.59 basis points. Meanwhile, in hard currency it is trading at 628 units. In the external market, the ADRs of Argentine companies that operate abroad are trading in positive territory of up to 9.3%, where the performance of YPF stands out, in a wheel in which the main US shares operate with a downward trend.
The strong increase in the price of this paper is explained by the fact that, last week, YPF announced an agreement for the Maxus case in the United States, which will allow the dismissal of all the actions initiated against the Argentine oil company and against Repsol, and will grant a release and total acquittal of the claims that the Maxus Liquidation Trust presented at the time for up to US$14,000 million.
Thus, YPF and Repsol agree to pay the Trust US$287.5 million each, for a total of US$575 million, without either admitting any liability.
In the fixed income segment, sovereign bonds in dollars under foreign legislation registered mixed results, while titles in pesos with CER adjustment marked increases of up to 0.61%, led by the TX26.
What happens in the markets of the world
Wall Street The week began with ups and downs, after the release of the employment report last Friday indicated that the labor market remains strong.
He Stock market It was closed for Good Friday, but it didn’t stop the Labor Department from reporting Friday that nonfarm payrolls rose by 236,000 in March, slightly below the consensus estimate of 240,000 and down from a revised 326,000 in February. The unemployment rate held steady at 3.5%, while the labor force participation rate rose to a post-COVID-era high of 62.6%.
Argentine shares mark increases of more than 10% and dollar bonds operate with losses of up to 3%
Hourly earnings rose 0.3% compared to the February figures. The annual profit it cooled to 4.2%, down from 4.6% in February. Markets are now pricing in a 70% chance that the Federal Reserve will raise interest rates another 0.25% in May.
For the rest of the week, Wall Street will pay close attention to the March Consumer Price Index report due on Wednesday, with one square expecting the index to rise 0.3% from February, which would bring the headline inflation rate yoy to 5.2% .
Wall Street
Wall Street’s major indices are trading with mixed results. Thus, the S&P 500 falls 0.13%; the industrial Dow Jones gains 0.21%; and the technological Nasdaq loses 0.35%.
Merval
The Merval registers a rise of 1.67%. Thus, the rises of the leading shares are registered by YPF (6.93%); Central Port (5.02%); and Edenor (3.67%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with results in the green. Thus, the profits are recorded by YPF (9.3%); Transportadora Gas del Sur (5.2%); and BBVA Argentina (4.2%).
bonds
Sovereign bonds in dollars under foreign legislation register mixed results, while titles in pesos with CER adjustment mark increases of up to 0.61%, led by the TX26.
Risk country
The country risk is located around 2,428 basis points.
