The porter bag managed to reverse its negative start and advanced 0.99%, to settle at 253,035.44 basis points. Meanwhile, in hard currency it traded at 702 units. In the foreign market, the ADRs of Argentine companies that operate abroad closed unevenly, in a wheel in which the main US shares operate with a mixed trend.
In the fixed income segment, the sovereign dollar bonds under foreign legislation they registered increases of up to 2.85%, led by the Global 41, while the titles in pesos with CER adjustment left rises of up to 0.46%, where the performance of the TX24 stood out.
Through Communication B12465, the BCRA decided to increase the rate of passive repos with Mutual Investment Funds to 95% of the current rate for one-day repos with financial entities. Previously, that percentage was 75%. The measure will imply an increase in interest-bearing bank account rates, as well as guarantees.
From Grupo SBS they pointed out that “this loss in bank profitability could prompt them to demand short Treasury papers (Ledes) in the tenders (the Treasury validated higher effective rates in the last tender)Although, on the other hand, the demand for these papers by FCIs would decrease, which could prefer these repos with the BCRA rather than exposure to the sovereign for liquidity management, so the dynamics will have to be evaluated as the days go by. We estimate that the measure would be aimed at limiting the pressures on financial dollars.”
What happens in the markets of the world
Wall Street traded mixed as investors weighed in another round of companies’ quarterly financial results. Earnings season got off to a softer start than anticipated. Fourth quarter net profit margin for the S&P 500 to date is 11.4%, below the prior quarter net profit margin of 11.9% and the prior year net profit margin of 12.4% . Furthermore, consensus earnings estimates for 2023 are on a steady downward trend.
Thus, shares of General Electric advanced more than 1%, after reporting a fourth-quarter profit that was affected by its renewable energy business, even as the industrial company delivered an upbeat earnings forecast. The shares of Johnson & Johnson lost close to 0.1%, despite the fact that it presented a report that was higher than the expectations of the market.
The Buenos Aires stock market and Argentine ADRs on Wall Street operate with falls
The actions of 3M Company They fell sharply 6.5% as he reported lower profit on inflation-related slump in demand for items including air purifiers and respirators and announced he would cut 2,500 jobs.
On the economic front, Thursday’s gross domestic product (GDP) reading is the highlight of the week. However, investors remain fully focused on the next rate announcement from the Federal Reserve in early February.
Wall Street
The main indices of Wall Street They were negotiated with mixed results. Thus, the S&P 500 lost 0.07%; the industrialist Dow Jones advanced 0.31%; and the technological nasdaq it fell 0.27%.
Merval
The Merval recorded a gain of 0.99%. Thus, the rises of the leading shares were registered by Transener (5.95%); BYMA (4.91%); and Ternium (4.21%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with mixed results. Thus, the gains were registered by Transportadora Gas del Sur (4%); Central Port (3.2%); and Ternium (2%); while the falls corresponded to Globant (-4%); Black Hill (-1.9%); and Banco Supervielle (-0.9%).
bonds
Sovereign bonds in dollars under foreign legislation registered increases of up to 2.85%, led by the Global 41, while titles in pesos with CER adjustment left increases of up to 0.46%, where the performance of the TX24 stood out.
Risk country
The country risk is located around 1,822 basis points.
