The equity segment at the local level operated with profits, but abroad it failed to match the good mood shown by the reference markets
For mark phillip
01/26/2023 – 6:38 p.m.
The Merval advanced 0.44% and settled at 261,221.77 basis points. Meanwhile, in hard currency it traded at 708 units. In the external market, the ADRs of Argentine companies that operate abroad closed with falls of up to 2.9%, led by Banco Supervielle, in a round in which the main US shares registered an upward trend.
In the fixed income segment, despite a strong start, the sovereign dollar bonds under foreign legislation they registered increases of up to 1.43%, led by the Global 41, while the titles in pesos with CER adjustment marked increases of up to 0.67%, where the performance of the TX28 stood out.
In the peso market, the Palacio de Hacienda presented the conditions of the second tender of the year, where it faces total payments that reach $106,169 million, in which it will be the first test after the BCRA measure regarding the coefficient of the interest rate. passes to the FCIs and that harmed the banks, the Government’s main allies when it comes to rolling over the debt in local currency.
For the city’s market analysts, this Monday’s initiative “generates some uncertainty regarding the support of the banks in future tenders. Let’s see if they drop the measure or sustain it and compensate the banks with something else.”
What happens in the markets of the world
Wall Street ended higher, following the release of GDP data and another round of corporate earnings presentations.
On the economic front, US GDP grew 2.9% at an annual rate in the last quarter of 2022, above expectations, according to the Bureau of Economic Analysis. Personal consumption spending compromised two thirds of domestic activity and added 2.1%, which meant a slowdown of 2.3% from the previous quarter. For its part, initial jobless claims fell again to 187,000, the lowest level since April 2022.
The Merval extended gains and the ADRs had losses
Together, these two data represented more signs of resistance for the economy to make the “soft landing” that the Fed seeks, amid concerns in the market about a possible recession.
On the corporate front, after the closing bell yesterday, Tesla reported earnings that showed the EV maker posted better-than-expected earnings in the past quarter, earning $3.7 billion in net income on $24 .3 billion in revenue. Tesla announced that it would deliver about 1.8 million vehicles this year, which would represent a 37% jump in production. Thus, its shares rose strongly by almost 11% today.
Wall Street
The main Wall Street indices are trading with positive results. Thus, the S&P 500 advances 0.58%; the industrialist Dow Jones add 0.28%; and the technological nasdaq increases 1%.
Merval
The Merval registered a rise of 0.44%. Thus, the losses of the leading actions were registered by Cresud (4.98%); Transportadora Gas del Norte (3.57%); and Transener (2.89%).
ADRs
On Wall Street, the papers of Argentine firms closed the day with mostly negative results. Thus, the falls corresponded to Banco Supervielle (-2.9%); Transportadora Gas del Sur (-2.4%); and Loma Negra (-1.7%).
bonds
Sovereign bonds in dollars under foreign legislation registered increases of up to 1.43%, led by the Global 41, while titles in pesos with CER adjustment marked increases of up to 0.67%, where the performance of the TX28 stood out.
Risk country
The country risk is located around 1,833 basis points.
