The strong surge that Argentine stocks experienced on Monday on Wall Street -while in Argentina it was a holiday- He moved to Buenos Aires this Tuesday, with a 20.5% rise in the S&P Merval, the main Buenos Aires index. YPF jumped 33%, the same as Metrogas.
Meanwhile, in the call “premarket” de Wall Street, that foreshadows the path that the papers will follow when the market starts, the papers of Argentine companies continued to move upwardsalthough much more discreetly than on Monday when the shares jumped between 25% and up to 40%, with YPF in the lead due to Javier Milei’s privatization plans.
YPF advances almost 2%, and energy companies such as TGS (4%), Central Puerto (1%) and Pampa, and banks such as Supervielle (3.5%) also rise. These companies already rose between 15 and 25% on Monday.
On Sunday, the jump to $1,200 of the free dollar in the crypto market and then its strong decline to the area of $1,000 It was the first sign of reaction from the financial sector before the resounding victory of Javier Milei in this Sunday’s runoff. This Tuesday we will see what the behavior of financial dollars and the blue is in Argentina.
It was Milei’s statements that boosted YPF’s action on Monday in the United States. In the morning she said on radio Miter that before privatize 51% of the oil company’s shares, “It must be recomposed” and he anticipated that YPF and Enarsa will have “a role in the energy transition.”
What happens to debt bonds
He bond market Monday also showed a positive tone, with increases of between 2 and 3%. And this Tuesday they also started in green, but in a more tepid way, with an increase of less than 1%, always in their prices on Wall Street.
The country risk is around 2,243 basis points, a decrease compared to Friday, leveraged by the phrase of the President-elect on Sunday, who in his first speech said that Argentina had to fulfill its commitments.
That, in the financial market, was taken as a sign that the future Government does not have any plans to negotiate a new restructuring of the debt bonds.
The post first appeared on www.clarin.com