Tuesday , August 16 2022

In Argentina – investing in Diario Financiero


JPMorgan says that in March only you can have a big "confidence in the way of restoration".

It was not the time to buy Argentinean shares but, despite the recent decline in pornographic content, JPMorgan's experts, led by Diego Salles, wrote in the note.

Experts expect the company to be "restored" to the end of the first quarter of next year. These include three factors: macroeconomic data, goodwill estimates of October presidential election and MSCI upgrades for potential impacts coming into force next May.

The MSCI Argentinean index lost 50% of its value this year after the downward depreciation of the currency by 2018. The flight significantly reduced deals on the stock market, and the volume of quotations dropped. annual average. The central bank registered a minimum of $ 41.25 at the end of September and a 14% stronger pace since the establishment of the foreign exchange market.

JPMorgan's projects in Argentina are 2.7% this year and 1.5% in 2019.

"We are in a very poor macro-environment now and look at the future with a good scenario, but we need additional data to make sure of the recovery," they said.

"Taking into account the driver of these three markets, we know that it is early to get to the Argentine market," he said.

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