:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/7GXLBSXCLCVTBRCL6PM4XZ7J3I.jpg "Markets: Argentinian stocks stabilize and bonds fall before a bearish wheel on Wall Street")
Argentina’s stock market is running slightly higher on Friday, with companies whose prices remained supported by purchases as a hedge against complicated data from the domestic economy, amid global fears that the US Federal Reserve will hold rates. interest rates for longer.
The 4 Reasons Dollar Bond Prices Are Falling
Public securities on the stock market recorded an average loss of 16% in February and the country risk is again close to 2200 points. What analysts say
New York stock exchange indicators are operating with sharp declines of more than 1%, while the main stock market index S&P Merval of the Buenos Aires Stock Exchange advanced by 0.1% marginalto 248,200 units at 2:10 p.m., after ending up 1.3% the day before.
“There are buying into well-liquid stocks as hedges against inflation and the latest economic data that presents a difficult future for the economy,” one trader said. Reuters.
Argentina’s economic activity (EMAE) fell by 1.2% year on year in December 2022 and inflation is expected to return to around 100% this year, amid a significant shortage of foreign currency at the central bank , accentuated by a long drought affecting the countryside.
Markets: The stock market rallied under the impetus of Wall Street and dollar bonds climbed another 5%
The S&P Merval gained 1.3% to 248,006 points and global bonds also rose for the second day, with an average rise of 4.9%. New York indices gained between 0.3% and 0.7%
Free market posted a net profit of $164.7 million in the fourth quarter of 2022, higher than the loss recorded in the same period last year (-$46 million), after a strong performance from its Fintech unit. It posted earnings per share of $3.25, above the market estimate of $2.46. Revenue for the quarter was $3.0 billion versus consensus estimate of $2.96 billion.
Oil company Vista reported net profit of $269.5 million in 2022, a year-on-year jump of 432%.
Macro Bank reported fourth quarter net profit of $16,614 million, compared with third quarter 2022 profit of $10,417 million and fourth quarter 2021 profit of 20,519 million pesos. The net result for the quarter represents a financial return of 16.9% and a return on assets of 3.3%. Fourth quarter 2022 operating income was $78,182 million and increased 79% year-over-year. Total financing to the private sector increased by $2,027 million from the previous quarter (for a total of $596,418 million) and decreased by 12% year-on-year. In 2022, financing to the private sector in pesos and dollars fell by 14% and 30% respectively.
Financial week: Free dollar stabilised, but reserves and bonds fell
The “blue” dollar closed at $377, unchanged from the previous Friday. BCRA sold $470 million to MULC. Dollar bonds fell 7% and country risk rose above 2,100 points
Vista Energy reported adjusted net income of $171 million in the fourth quarter of 2022, compared to adjusted net income of $35.4 million in the same period of 2021. Revenue for the fourth quarter of 2022 was $308.1 million dollars, up +57% year-on-year, mainly due to higher production and average realized prices. EBITDA earnings before interest, taxes, depreciation and amortization or earnings before interest, taxes, depreciation and amortization) adjusted for the fourth quarter reached $201.7 million, a year-over-year increase of 73%.
cresud repurchased 199,982 ordinary shares traded through ByMA, at a price of $259.54 each for a total amount of 51.9 million pesos. So far, they have repurchased shares equivalent to a total of 7,163,284 common shares, representing approximately 40.4% of the approved program.
Global bonds are trading on Wall Street with an average decline of 1%, after posting a cumulative average gain of 11% over the past two sessions. He countries at risk of JP Morgan increased by 32 units for Argentina, in 2,011 stitches basic.
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