ADRs fell to 7.4%, but bonds climbed to 5.4%

ADRs fell to 7.4%, but bonds climbed to 5.4%

The shares of Argentine companies fell sharply yesterday on Wall Street, in a day marked by a downward trend in the main indices of the New York Stock Exchange, while the local market is still digesting the series of Economy measures.

The ADRs closed with majorities of losses, with the financial sector in the lead. The one that fell the most was Grupo Financiero Galicia with 7.4% but Banco Macro (6.4%) and Banco Supervielle (6.1%) also fell sharply. In turn, the three main indices for that market closed lower: the Dow Jones (1%), the S&P 500 (0.4%) and the Nasdaq (0.2%).

For its part, the S&P Merval lost 0.6% to 318,791.97 points, after scoring its intraday record in the first part of the session at 324,614.98 units. In the leading panel, the main losses were for BBVA bank (4.2%), Macro bank (3.6%) and Supervielle bank (3.6%). The increases, for their part, were led by Transportadora de Gas del Norte (3.8%) and Ternium (3.2%).

“I think that the external context remains cautious, and this does not help since it is combined with the climate of local political and economic uncertainty, in the midst of financial -and free- dollars that are rearranging upwards after the latest economic measures,” he said. Gustavo Ber from Estudio Ber.

Bonds and country risk

In the fixed income segment, sovereign bonds in dollars rose to 5.4% thanks to the Global 2041, followed by the Global 2038 (3%), and the Bonar 2030 (1.9%). For its part, the country risk fell 0.3% to 2,574 basis points.

Meanwhile, dollar-linked sovereign bonds closed with average gains of 0.7%. Duals, for their part, rose an average of 0.3% in the short tranche and an average of 1.8% in the long tranche. As for the CER segment, while the Lecer and the short tranche of Boncer rose 0.3%, the long tranche gained 0.5%.

Source: Ambito

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