After the day of strong losses for the alleged coimas scandal, the local assets rose to purchases for opportunity. However, the final figures mark strong red.
In a climate crossed by political tensions Towards the mid -term elections in the province of Buenos Aires (September 7) and the national elections of October, is that it impacted strongly Telephone listeners for alleged coimas in contracts of the National Directorate of Disability (Andis) on the presidential image. Given this days with strong losses that, only on Thursday, were reversed before purchasing opportunity.
Despite these values, the ADRs are aimed at closing the month with strong decreases, the centrals: Supervielle Group (-23%), Edenor (-21.6%), Galicia Financial Group (-21.2%), and BBVA (-20.7%). The same goes for leading actions, the greatest losses in August are for banks, Galicia and Superviellewith 17.4%, and BBVA16.1%.
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Bonds in dollars and country risk
On the previous day, the country risk that JP Morgan measures rose to 0.4% to 853 basic points. It is the highest value since April 7.
“The CER bonds came to offer absurd yields. To this it is added that today they provide greater coverage than a fixed rate, which explains the rotation of the market towards this segment. The TX26, for example, came to give closed +32, a nonsense for a title of these characteristicsDante Ruggieri, partner of AT Investments said. “That is why they have been climbing on the last wheels: they had been very cheap and now offer protection that the LECAP does not have ”, He finished off.
Source: Ambito
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