The Buenos Aires stock market fell again yesterday, four days before the ballot. The ADRs ended mixed, given the good day of the main indices on Wall Street. However, sovereign bonds in dollars traded higher.
The S&P Merval fell 0.8%, to 629,361.48 provisional units, within a selective session due to portfolio rearrangements due to pre-election coverage. The main losses were for Ternium (2.8%) and Aluar (1.6%). The increases were led by Transener (3.1%) and Edenor (2.3%).
“The main papers are once again the preferred vehicles for those operators more oriented to trading,” said an economist. “Operators recognize that the dynamics of local risk appetite will be totally hostage to the result of the second round and the possibilities of urgently implementing a stabilization plan with political consensus,” he noted.
For their part, the papers of Argentine companies listed on Wall Street closed with disparity, in a slightly positive day for the New York stock market. The firmest advances of the day were led by the shares of Edenor (7.7%) and Despegar (6.3%). Meanwhile, the main declines were for the ADRs of Central Puerto (3.9%) and Transportadora Gas del Sur (3.4%).
Bonuses
Dollar bonds closed higher yesterday in New York, with increases led by Global 2035 (1.9%), Global 2038 (1.6%) and Global 2041 (1.5%). Consequently, the country risk fell 1.96%, to 2,448 basis points and ended a streak of four increases in a row.
In the local square, the titles closed mixed. The drop in Bonar 2041 stood out, which fell 8.7%. The most significant advances were from Global 2029 (3.4%), Global 2035 (3%) and Bonar 2038 (1.1%).
Source: Ambito
