Argentine assets register a negative trend, affected by the strong local volatility that affects the mood of all investors.
By Marcos Phillip
26/04/2023 – 12,25hs
He Merval it falls 1.40% and stands at 298,830.71 basis points, the product of a profit-taking after four straight days with gains. Meanwhile, in hard currency it is trading at 654 units. In the external plaza, the ADRs of Argentine companies that operate abroad are trading in positive territory of up to 4.1%, where Ternium’s performance stands out, in a wheel in which the main US shares operate with mixed results.
In it fixed income segmentsovereign bonds in dollars under foreign legislation decreased up to 2%, led by the Global 30, while titles in pesos with CER adjustment marked falls of up to 0.58%, where the performance of the TX26 stands out.
In it weight marketthe Ministry of Economy will seek to raise VNO $530,200 million today through the tender for a Lelite to May, two Lecers (X18L3 and X18S3), the Lede S31L3, the dollar linked T2V3 bond, the dollar linked D31O3 letter, the Boncer T2X3 and a new dual bonus to April 2024.
Maturities amount to around $965,000 million, mainly concentrated in S28A3 and TV23, and analysts estimate that they are entirely in private hands after the debt swaps in pesos, “so it will be a challenging tender for the Treasure”.
What happens in the markets of the world
Wall Street registers ups and downs in its main indexes, with investors who continue to analyze the results of big technology companies which started this week.
Microsoft reported fiscal third-quarter earnings that beat estimates, signaling growing strength in its cloud and artificial intelligence businesses. Microsoft earned $2.45 per share, on revenue of $52.9 billion, compared with earnings of $2.22 per share, on $49.4 billion for the same period a year ago.
In the external market, the ADRs of Argentine companies that operate abroad are trading in positive territory
For his part, Alphabet’s first-quarter earnings showed a 2% rise in search revenue, well below the corresponding quarters of the past two years. Meanwhile, Bing app installs have quadrupled after AI boosted it.
Tech stocks have fueled the stock’s rally so far this year, but some analysts expect the sector could come under selling pressure as it loses steam. Investors remain concerned that earnings growth expectations are weaker, leading some market strategists to anticipate a pullback that has yet to materialize so far.
Wall Street
Wall Street’s major indices are trading with mixed results. Thus, the S&P 500 falls 0.07%; the industrial Dow Jones falls 0.35%; and the technological Nasdaq advances 0.88%.
Merval
The Merval registers a fall of 2.80%. Thus, the falls of the leading shares are recorded by YPF (-4.35%); Black Hill (-4%); and Central Puerto (-3.5%).
ADRs
On Wall Street, the papers of Argentine firms operate the day with results in the green. Thus, the gains are recorded by Ternium (4.1%); Globant (2.7%); and Central Puerto (2.3%).
bonds
Sovereign bonds in dollars under foreign legislation decreased up to 2%, led by the Global 30, while titles in pesos with CER adjustment marked decreases of up to 0.58%, where the performance of the TX26 stands out.
Risk country
The country risk is located around 2,649 basis points.
