2023-11-20 15:43:00
Los Argentine papers rise up to 41% led by YPF in the first operations of the North American Wall Street marketfollowed by Banco Supervielle (26,8%)BBVA (20.9%), Grupo Financiero Galicia (17.8%), Globant SA (11.9%).
For the analysts consulted by PERFIL, These strong increases reveal the optimism of the markets due to the changes that are going to be applied to the Argentine economy as of December 10.
This was pointed out by the Lic Gastón Lentini: “OTotal optimism in the American market. TOEven the banks that could be hit by a possible dollarization have increases of 20% and YPF leads the increases waiting for optimization of the structure and liberation of prices,” the market analyst told PERFIL.
He thought something similar Gustavo Neffa, Straightr of Reaserch for Traders, by pointing out that these jumps “They reflect the optimism of the market regarding the reforms that are going to begin to be applied, the fiscal deficit that is going to be cut, the sincerity of the economy regarding the exchange rate and other variables of the economy that had been deteriorating over time. “giant steps”he pointed out.
“The road is going to be difficult,” he argued, “but bonds are rising between 3 and 5%. The shares between 10 and 37% but the market is just opening,” said the operator.
How much will the blue dollar open at tomorrow, November 21?
The million-dollar question, this Monday without operating markets in Argentina due to the Sovereignty Day holiday, is what value the exchange rate will reach tomorrow.
Gustavo Neffa, Straightr of Reaserch for Traders, considered that the value it has, today The crypto dollar is a good sign to anticipate how much it will be tomorrow.
“The exchange rate in the area of 1050 pesos that the crypto dollar is in is somewhat what we are going to see tomorrow reflected in the blue dollar,” The market analyst anticipated and reinforced that if this possibility were to occur, the price of the parallel “should jump approximately 100 pesos tomorrow.”
It is worth remembering that last Friday, prior to the runoff, there were almost no operations in the informal market and the value of the parallel currency remained around 950 pesos.
The pre market numbers
Until Sunday, November 19 everything was uncertain in an Argentina where it was difficult for the market to take a clear position in the face of uncertainty which meant a presidential runoff with very close numbers. However, Javier Milei achieved a resounding victory that separated him from his rival by more than 11 points, and with Monday’s newspaper, investors decided to start taking a position.
Thus, Argentine companies listed in New York showed increases of more than 18% in what is known as “pre market”, while bonds had increases of between 5 and 6%.
Javier Milei confirmed that he will privatize YPF, Public TV, Télam and Radio Nacional
This November 20 there are no markets in Argentina while the National Sovereignty Day. However, the bonds and ADR’s operate on the Wall Street stock marketty show jumps of more than 18% in some papers and up to 6% in some bonds.
It is worth considering that It is called Pre-Market because the market opens at 9:30 in the morning New York timek, which is 11:30 am for Argentina.
As the financial analyst explained Lic Gastón Lentini to PROFILE: “Today we are not going to have a market in Argentina, so we will only see some assets move abroad.”
Regarding the jump in ADR prices, he pointed out: “Some Argentine stocks such as Banco Galicia, YPF, Telecom, Pampa, Central Puerto. All of these stocks are experiencing very significant increases. Before the market opens, some small transactions are already taking place. volume, because they are few, but the first variations exceeded 12%,” he indicated.
By case, YPF leads the increases with an increase of 18.55%, Pampa Energy it climbs 12.41% and TGS rises 12.33%, just to show some examples.
In the case of the national bonds with quotes of many volumes The variations are something super fluid and very normal, Lentini detailed and added that “andIt’s part of the international bond market and those bonds are already seeing increases of around 5 and 6%. We will have to see the development throughout the day“he pointed out.
For example, some figures show that the sovereign bonds in dollars They rose up to 6% led by Global 2046, Global 2035 (5.72%), Global 2041 (5.43%) and Global 2029 (5.1%).
Why are the shares of Argentine companies on Wall Street rising after Milei’s victory?
For the financial analyst Andrés Reschini, of F2 Financial Solutions, he had a lot to do with it Javier Milei’s speech after knowing the election results.
Milei, in his first hours as president-elect: “Lowering inflation to international levels will take between 18 and 24 months”
“Yesterday when in Milei’s first speech he talked about reducing the fiscal deficitto fix the problems of the Central Bank, did not talk about dollarizationspoke of respecting commitmentsso “The reaction of the markets was what was expected after that speech,” said the specialist in dialogue with PERFIL.
Reschini sees a good performance in bonds, also in stocks, “I don’t know if all of them, but in general,” he said and added: “Well, vWe are what happens with the foreign exchange market trading tomorrow. For now, some drastic changes are expected (as the new president-elect announced) There may be pressure on exchange rate futuresio and everything that is linked to the official exchange rate,” he pointed out.
The head of the IMF congratulated Javier Milei after his victory
At the international level, the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, congratulated the President-elect and told him that she hopes to work with his administration on “a solid plan to safeguard the economic stability” of Argentina.
“Congratulations to the elected president of Argentina, Javier Milei,” said the Bulgarian in X, and stated: “We hope to work closely with him and his administration in the next period to develop and implement a solid plan to safeguard macroeconomic stability and strengthen inclusive growth for all Argentines.”
From what some market analysts explain, beyond the fact that the future head of state generates expectations, the rise in shares would be linked to the search for coverage.
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