Markets: shares of Argentine companies listed in New York rise

The fate of the shares of Argentine companies listed in New York and that of sovereign bonds was separated in today’s round. While most of the american depositary receipts –ADR, as the papers of foreign companies that operate on Wall Street are called– show gains of up to 4%, government debt securities average falls of the order of 0.8%. Country risk, meanwhile, fell one point to 1,371 units.

Given the persistent doubts about the future of the country’s economy, at a time when the Government is holding meetings with the International Monetary Fund (IMF) in the face of a new program that allows postponing the payments owed to the body, the parallel quotes of the dollar they remain under pressure and the financial market accompanies in volatility.

Recent economic measures announced by the Central Bank (BCRA) and the Ministry of Economy that seek to give investors confidence only managed to increase investors’ fears, traders said.

“Indications are expected from the mission of the international organization (IMF) that allow us to glimpse a convergence in fiscal and monetary imbalances, as well as definitions of the exchange system, given that the continuous drain of reserves continues to be at the center of the scene and said adverse dynamic is not sustainable, “said economist Gustavo Ber, head of the consulting firm Estudio Ber.

Sovereign bonds in the OTC segment fell 0.8% on average, with the benchmark Bonar 30 losing 0.8% and Bonar 41 losing 1.3%.

The country risk prepared by the JP Morgan bank fell one unit to 1,371 points, compared to the 1,083 registered on September 10 after the restructuring of bonds for more than USD 100,000 million.

They are wheels of great uncertainty, with investors attentive to the Central Bank’s strategy and closely following if the entity sells dollars

The S&P Merval index lost 0.37% to 44,272.53 units after noon, cutting a string of four consecutive rising sessions in which it accumulated an improvement of 7.7%.

“They are wheels of great uncertainty, with investors attentive to the strategy of the Central Bank and closely following if the entity sells dollars, how much and if it will manage to dominate the gap. It is all concentrated on what happens in the exchange market, ”said Portfolio Personal Inversiones (PPI).

The best of the day came from New York. The ADRs of Argentine companies folded to the rises of the Wall Street benchmark indices and maintained increases of up to more than 4%.

The New York Stock Exchange registered a strong rebound after yesterday’s stumble, with the Dow Jones index up 1.35%, the S / P 500 1.39% and the Nasdaq technology with a 1.68% gain.

Through a series of tweets, the President of the United States Donald Trump suggested that there would be a series of specific assistance lines to alleviate the effects of the COVID-19 coronavirus pandemic and launched actions upwards. A day earlier, also through the social network Twitter, Trump had announced that his party would move away from negotiations with the opposition in the legislative branch to launch a more comprehensive assistance package and had brought down the market.

In this context, the Argentine papers took advantage of the rebounds. Central Puerto gains 4.67%, Ternium 2.51% and Irsa Propiedades Comerciales 3.07%.

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