The renewed momentum shown by the New York Stock Center plaza in the last rounds encouraged the listing of Argentine assets
By mark phillip
11/23/2022 – 6:38 p.m.
The Argentine assets in the external square they took advantage of the best global mood and are trading with profits, in a session in which Wall Street extends the rises.
In this sense, the ADRs listed on the New York Stock Exchange recorded advances of more than 9%, led by BBVA Argentina. At the local level, the porteña showed a slight fall of 0.14% and measured against the dollar with settlement it stands at US$487.
In the fixed income segment, sovereign bonds in dollars registered gains of up to 3.95%, led by the AL41D, while titles in pesos register increases of up to 1.69%, where the DICP stood out.
The momentum shown by the sovereign debt in hard currency is explained as a result of the improvement in the perspective of rate increases by the Federal Reserve in the United States given the lower-than-expected inflation data, and by investors who are dollarizing their portfolio taking advantage of the low price of public securities.
What happens in the markets of the world
Wall Street traded with profits in the last full day before tomorrow’s Thanksgiving holiday and Friday’s reduced trading day that will be open until noon.
Investors faced a busy economic calendar ahead of the holiday weekend, with the latest data on weekly jobless claims indicating 240,000 new jobless claims were made last week, the most since mid-August. Economists had expected initial claims to total 225,000 for the week ending November 19, which may be a slight indication that the economy is cooling as the Fed expects.
The shares of Argentine companies in New York marked important increases
The rally that has been supporting major US stocks has made some analysts more optimistic towards the end of the year, even as Morgan Stanley and Goldman Sachs issued more cautious outlooks for this week. On the corporate front, after the campaign close on Tuesday, earnings results for companies HP (HPQ), Nordstrom (JWN) and Autodesk (ADSK) were published.
HP shares traded higher today after the company announced plans to cut its workforce by up to 12% by the end of its 2025 fiscal year in response to a slowdown in the PC market. On the other hand, Nordstrom shares fell after reporting lower sales in its most recent quarter and forecasting lower earnings for the full year. And finally, Autodesk (ADSK) shares fell sharply as the company lowered its revenue and cash flow outlook.
The main Wall Street indices traded higher. Thus, the S&P 500 advanced 0.59%; the industrialist Dow Jones added 0.28%; and the technological nasdaq advanced 0.99%.
The Merval registered a fall of 0.14%. Thus, the falls of the leading shares corresponded to Ternium (-3.85%); Transportadora Gas del Sur (-2.21%); and Loma Negra (-2.05%).
Argentine shares listed on the New York Stock Exchange operated with a majority of greens led by BBVA Argentina (9.3%); Central Port (5.7%); and Cresud (4.6%).
Sovereign bonds in dollars registered gains of up to 3.95%, led by the AL41D, while titles in pesos registered increases of up to 1.69%, where the DICP stood out.
The country risk is located around 2,409 points basic.