West Texas Intermediate (WTI) crude oil, which trades on the New York futures market (Nymex), was up 0.14% this morning and was trading at $66.11 a barrel in contracts for delivery in April. Similarly, North Sea Brent crude oil, which trades on London's electronic futures market (ICE), gained 0.22% and was trading at $69.78 a barrel in contracts for May delivery.
Inflation in February was 3.6%, slowing down from 4% in December and January, to accumulate 7.8% so far this year. In year-on-year terms, the Consumer Price Index showed a rise of 40.7%. Private analysts estimate a new acceleration in March, when the indicator may again approach 4% and warn of inertia that will keep the figure above 3% in the coming months.
Cement maker Loma Negra revealed in 2020 a year-on-year drop in net income of 12.8%. When taking the October/December period and making the year-on-year comparison, the figures went from negative to positive, with an increase of 20.6%.
After negotiations, the Argentine government managed to unlock the arrival of shrimp to Brazil. The Argentine embassy anticipates that the business will be worth $50 million a year in the first stage. It will have a positive impact on regional economies.
The Albanesi Group, one of the leading energy generators and leader in Argentina's natural gas commercialisation market, informed that it obtained financing in the local capital market for USD 40 million. They achieved it with the issuance of two Negotiable Class Notes (ON), one dollar-linked (class VII) and the other in UVA (class VIII), both maturing in 2023.
Grupo Telecom Argentina reported yesterday that in 2020 it had a net loss of 5.1 billion pesos ($56.28 mn), 3.6% less than the red it had recorded during 2019. In this context, it said that at the end of last year, it subtracted 499,000 mobile telephony customers but added 26,000 cable TV subscribers and another 23,000 broadband internet users.