S&P Merval rises in pending buying among institutional investors

S&P Merval rises in pending buying among institutional investors

In the face of the general decline in the major international stock markets, operators are not ruling out short-term profit taking.

The agency said in a statement on Monday that the International Monetary Fund reached an agreement at the officials level in the second review of the fund’s expanded program with Argentina in exchange for 44 thousand million dollars.

Argentina’s economy will grow by 2% with annual inflation of 60% in 2023, according to the draft budget that the government sent to the National Congress on Thursday evening. In the midst of a sensitive financial crisis, the country will grow by 4% and the inflation rate will reach 94.5% in 2022.

In this framework, Argentine stocks listed on Wall Street are performing unevenly, with increases of up to 4% and declines of up to 2.6%. Among the increases, communication increases (+4%) stood out; CorporaciΓ³n AmΓ©rica (+2.9%) and Transportadora de Gas del Sur (+2.9%).

Meanwhile, among the most significant declines were the Loma Negra ADRs (-2.6%); YPF (-1.7%) and Mercado Libre (-1.3%).

Bonds and State Risks

Dollar bonds are running on Monday with losses of up to 0.9%, led by Bonnar 2030 (AL30D) and followed by Global 2030 (GD30D).

Meanwhile, country risk as measured by JPMorgan banks rose 16 points, or 0.7%, to 2,399 units.

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