News
Ternium 2Q 2019
Ternium Argentina’s net income was higher than in 1H 2018, although slightly below expectations due to decreases in deliveries and operating margin, along with a lower result of associated companies. Target price estimate is expected to remain relatively stable.
Financial Sevices
S&P Ratings classified Argentina’s Banking sector as B+, taking economic and financial services risk factors into consideration.
Soy
A delegation of Chinese officials will visit Argentina in August to inspect soy plantations. This is a key step in Argentina’s efforts to export soy to the worlds largest consumer of produce.
Ternium Argentina
Ternium Argentina (TXAR) filed their second quarter consolidated balance sheet adjusted for inflation, with net income of $3,028 million vs a net loss of $718 million in the second quarter of 2018. Sales reached $21,795 million, which come out to a 1.1% decrease y/y when adjusted for inflation.
Vista Oil & Gas
Vista Oil & Gas’ board of directors approves a plan to issue up to USD 800 million in bonds on August 2nd. This is in addition to their debt and equity offerings last week.
Arcor
Arcor plans to get clearance from regulators to issue USD 800 million in commercial paper in Argentina.
Flash: Aluar 3Q 18/19
Aluar showed a solid performance with better than expected results, driven by the peso depreciation.
Flash: Ternium 1Q19
Ternium Argentina disclosed a net result below expectations due to decreases in deliveries and operating margin, along with lower associated companies results. Estimated target price may be lower.
The Central Bank will sell dollars in the spot market bellow the upper floating band
Argentina’s central bank will increase intervention in the foreign exchange market being able to sell dollars in the spot market even if the FX is below AR$ 51.448, while the amount and frequency will depend on market dynamics.