In the general panel, the shares of Celulosa (+17%), Havana (+7.6%), and Richmond (+4.6%) stood out. The volume in shares fell 8.3% to $2,441 million, representing 33.5% of the volume traded in equities. Thus, more than the remaining 66% was traded on Cedear, whose daily amount fell 1.4% to $4,843.6 million.
“While the evaluations of the economic scenario and the aggressiveness of the monetary policy continue, local assets are inclined towards a correction, as a respite after the recoveries from the minimums, also fueled by the latest signs of cuts in public spending, in search of to converge towards the goal agreed upon with the IMF”, said the economist Gustavo Ber.
Meanwhile, Wall Street’s main indexes fell sharply as a surge in job openings stoked fears the US Federal Reserve has another reason to maintain its aggressive inflation-fighting interest rate policy. which could lead to a cooling of the economy of the northern giant.
In this framework, the ADRs closed with most decreases of up to 8.1%, led by Transportadora de Gas del Sur. Cresud (-6.6%), YPF (-6.3%) and Central Puerto (-5%) also fell sharply. On the contrary, Despegar (+1.8%), and Banco Superville (+1.6%) rose.
Bonds and country risk
In the fixed income segment, dollar bonds closed mixed. The biggest drop was for the Global 2038 (-3.1%), followed by the Bonar 2041 (-1%). Regarding increases, the Global 2029 (+2.1%), and the Bonar 2030 (+1.1%) stood out. In this framework, the country risk fell 0.54% to 2,407 basic points.
Meanwhile, dollar-linked sovereign bonds rose 1.3% on average, with higher volume in the long tranche. For its part, the debt with CER adjustment “was in demand”, assured Grupo SBS. The Lecer gained 0.6% and the Boncer, 0.9%. Finally, the 2023 duals “continued to concentrate the volume, especially TDS23, and this Tuesday they rose 0.5% on average,” added the same report.
Source: Ambito
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