Markets: Wall Street moderates the increases and the Argentine stock market falls again

There The Argentinian stock market is operating lower this Tuesday, after a very positive start which foreshadowed a resumption of sanctioned courses. This is happening in a setting where Wall Street indices were discounting posts, after a sharp decline during the previous rounds, a trend which was accentuated the day before with the harmful repercussions that the failure of bankruptcy can have on the American financial system. Bank of Silicon Valley (SVB).

The leading repository S&P Merval Porteño it climbed more than 3% in the morning. At 2:50 p.m. it yielded 1% to 223,000 points, after losing 10.2% in the last three sessions.

ADRs and Argentine stocks on Wall Street hit mixed numbers. YPF rises 1.9%, to $10.09, and Grupo Galicia subtracts 0.6 percent.

On the New York stock exchanges, the index The Dow Jones rose 0.4% after learning that inflation in February in the North American country was 0.4%, in line with what was expected by analysts.

Operators in Argentina are waiting before the financial close on Tuesday for the report of Retail price of last month which was released by the National Institute of Statistics and Censuses (INDEC), and this according to the criteria of specialists, in a survey of Reuterswill be around 6.2% and the year-on-year measure will exceed 100% for the first time since October 1991.

The technical staff of the Monetary Fund International (IMF) has approved the fourth revision of the $44,000 million credit program it maintains with Argentina, which will give the country a break amid severe financial difficulties with a disbursement of $5,300 million.

IMF staff finally approved the achievement of the targets for the fourth quarter of 2022, and once the Executive Board gives its approval – towards the end of the month – it will authorize the disbursement of some SDR 4,000 million ( special drawing rights of the organization) representing some 5.4 billion USD. In any event, on March 22, some $2,676 million is due into the Fund, which will likely be paid with reservations or asked to extend the commitment until the disbursement of the entity itself is received.

“Among the most relevant points of the IMF statement, the recommendation to maintain positive interest rates stands out, the non-use of reserves to intervene in the market and the recent exchange of debts in pesos is welcomed. The drought has was one of the main reasons for the revision of the objectives of the program”, clarified the experts of Research for Traders.

With regard to company balance sheets, Vista Energy earned in the fourth quarter of 2022 approximately $75.5 million, which compares to the fourth quarter of 2021 profit of $35.6 million. The market was expecting a profit of $79 million. Sales rose 57% year-on-year to $308.1 million, 55% of which was exports, mostly crude oil. EBITDA (acronym of English Earnings before interest, taxes, depreciation and amortization or benefits after tax and debt) adjusted was $201.7 million, 73% higher than the prior year.

Dollar bonds are trading with a 0.5% gain, according to the Global stock market benchmark on Wall Street, while countries at risk of JP Morgan reached 2,306 dots basic.

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