Day: May 15, 2020

Loma Negra´s shares rose 5.9% to close at $3.74

Investors in Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE:LOMA) had a good week, as its shares rose 5.9% to close at $3.74 following the release of its first-quarter results. Results were roughly in line with estimates, with revenues of 7.8b pesos ($115.2 mn), and statutory earnings per share of 30.81 pesos. Revenue growth is expected to slow, with forecast 18% increase next year well below the historical 27% p.a. growth over the last three years.

Government to control large companies to limit capital outflow

The Government provided for controls on international transactions between companies in the same economic group because the loss of tax revenue as a result of harmful tax planning techniques amounts to 4.4% of GDP. The regulations require economic groups with annual incomes over 2 billion pesos ($29.54 mn) to submit “Master Reports”, with information on strategic planning for the financial group as a whole.

Consumer prices in Argentina rose 45.6% year-on-year in April

Consumer prices in Argentina registered a 45.6% year-on-year increase last April, the National Institute of Statistics and Census (Indec) reported Thursday. The prices registered in April an increase of 1.5 % concerning March, a level of inflation that shows a sharp deceleration compared to the rise of 3.3 %, verified in the third month of the year.

Alpha Lithium Initiates Geophysics Program at Tolillar Lithium Project in Argentina

Alpha Lithium Corporation announces it has completed its assessment of available historical data and is making final mobilisation to undertake a vertical electrical sounding (VES) geophysics study at the Company’s Tolillar Salar. The study may commence as early as next week. The geophysics program is a progressive step to identify and map brine aquifers as potential targets for a series of drill tests.

Central Bank reserves decreased on Thursday $84 mn

The Central Bank’s gross reserves fell Thursday from $84 million to $43.2 billion. The blue dollar (parallel market) climbed to a new high of 138 pesos, with which the gap with the official dollar shot up to 104.1%. The implicit exchange rates that arise in the stock market decreased by almost 3.5 pesos. The high exchange gap complicates the agro-exporters, that does not want to settle waiting for a better value (today with deductions receives 44 pesos per dollar), while importers are rushing to buy, and that leads to a vicious circle.