Reports
| Date | Report | Type |
|---|---|---|
| 12/06/2019 | Argentina Macroeconomic PerspectivesArgentina: April´s construction and industrial production reports displayed improvements, increasing the likelihood activity is starting to recover. |
Macro Economy Weekly |
| 12/06/2019 | Argentina Equity MarketDomestic uncertainty, due to 2019 presidential elections continues to represent a major risk factor. Looking ahead, the focus will be on the FX and pesos denominated interest rate dynamics. At current prices, investors are discounting an uncertain election result, which would be a negative driver for all economic sectors. |
Equity Weekly Report |
| 10/06/2019 | Argentina Fixed Income MarketRegarding dollar denominated bonds, our suggestion is to maintain a position in those liquid and short-term, such as dollar denominated Bills, with a 4% yield and significant lower volatility than longer bonds. For more aggressive portfolios, we highlight Bonar 2024 (AY24), with a 17% yield, and Bonar 2020 (AO20) with a 18% yield. |
Fixed Income Weekly |
| 05/06/2019 | Argentina Macroeconomic PerspectivesArgentina: Despite a complex international scenario, local political uncertainty and economic contraction, last month´s exchange rate stability affected expectations favorably. |
Macro Economy Weekly |
| 04/06/2019 | International Macroeconomic PerspectivesUS: The recent escalation in trade tensions has increased expectations the Fed could cut rates this year if the economic outlook deteriorates. |
Macro Economy Weekly |
| 04/06/2019 | Argentina Equity MarketCompanies with low debt in dollars and hard currency denominated revenues would benefit most in this context, acting as a natural hedge. In addition, companies with high dividend yields would also experience lower volatility. |
Equity Weekly Report |
| 03/06/2019 | Argentina Fixed Income MarketRegarding dollar denominated bonds, our suggestion is to maintain a position in those liquid and short-term, such as dollar denominated Bills, with a 4% yield and significant lower volatility than longer bonds. For more aggressive portfolios, we highlight Bonar 2024 (AY24), with a 17.5% yield, and Bonar 2020 (AO20) with a 17.3% yield. |
Fixed Income Weekly |
| 31/05/2019 | San Miguel 1Q19San Miguel started 2019 with new challenges, following a full year of optimal production and trade settings, driven by production recovery in Argentina. |
Equity Brief Report |
| 31/05/2019 | Holcim 1Q19Amidst an adverse macroeconomic situation, especially for the construction industry (see Annexe1), total revenues fell by 2.3% y/y. |
Equity Brief Report |
| 30/05/2019 | Banco de Valores 1Q19Grupo Financiero Valores (BYMA:VALO) achieved a quarterly profit of ARS 348.8 million (+163% y/y), in a context of high interest rates, a drop in the number of corporate issues and a weak peso. |
Equity Brief Report |
| 30/05/2019 | Pampa Energía 1Q19Quarterly adjusted EBITDA stood at $ 8,037 million, below the $ 8,850 million expected and 34% lower y-o-y, which was negatively influenced by weakness in the energy distribution business and lower price of natural gas received by the Oil and Gas sector. |
Equity Brief Report |
| 28/05/2019 | International Macroeconomic PerspectivesUS: April´s capital investment preliminary figures signal activity is on its way to decelerate during the second quarter, as GDP growth returns to its post-recession average of 2%. |
Macro Economy Weekly |
| 28/05/2019 | Argentina Macroeconomic PerspectivesArgentina: Although activity figures don´t unveil a rebound, exchange rate stability helped confidence indexes higher in May. |
Macro Economy Weekly |
| 28/05/2019 | Argentina Equity MarketAt current prices, Central Puerto (CEPU) continues to stand out, as most of its revenue is dollarized and has low dollar indebtedness. In addition, at current price levels, Transener (TRAN) due to the positive sector’s growth outlook and a positive cash position is also attractive. Companies with a greater weight in the MSCI index after Argentina’s reclassification as Emerging Market will also be favored, among which we highlight Telecom (TECO2). |
Equity Weekly Report |
| 27/05/2019 | Aluar 3Q 18/19Aluar showed a good performance with better than expected results, driven by a rise in the foreign exchange rate. |
Equity Brief Report |