Day: May 19, 2020

Bonds and ADRs climbed to 12.4%; country risk dropped 5.2%

Just four days before the deadline for reaching an agreement on the debt swap, Argentina’s bonds and shares accelerated their upward trajectory, with increases of up to almost 13%, given the positive expectations on the restructuring negotiations. The S&P Merval stock index rose 2.3% to 40,286.72 units. Argentine country risk, as measured by JP Morgan bank, fell 5.2% to 2,690 units.

Mastellone Company lost $27.68 mn in Q1

The dairy company Mastellone Hnos, known in the local market for its brand La Serenissima, presented yesterday the financial results of the first quarter and reported losses totalling 1.47 billion pesos ($27.68 mn), mainly because the increases in costs could not be compensated by selling prices, as detailed by the company.

Oil: ” Criollo barrel” returns to $45

The Government set by decree the support price for local oil production. In exchange for the “criollo barrel” at $45, oil companies will have to comply with a series of requirements linked to maintaining the level of employment, investments and restrictions on the exchange market.