The local selective starts September in low after falling 14.4% in August, with a focus on dollar, rates and the key election in PBA.
The actions of the S&P Merval And the bonds fall up to 4% and open the week on lower after the index marked losses of up to 14.4% during August. At the same time, the first day of the month does not have the reference of Wall Streetsince it is a national holiday for Labor Day.
The stock index decoced 2.8% to 1,929,901.59 points, while its dollar counterpart does 4.4% to 1,399.68 points. Among the main roles that lead the losses stand out: Silver Commercial Society 4.4%; Telecom (-3.9%); Northern Gas Transporter (-3,8).
Last week, the index exhibited a weekly setback of -5.8% and monthly of -14.4%. All sectors presented downward movements, especially industrial (-11.6%), which was the least favored. Meanwhile, the index measured in dollars saw a more pronounced drop of -7.3% weekly and -14.2% monthly.
“Next Sunday will be the elections in the Province of Buenos Aires And one of the main challenges that the national ruling will face to show its competitiveness at the polls explained on this day Bursatile. “The market began to practice a defeat with the latest news and, if that result is not completed, the values of the shares and bonds can be shot”he added.
Bonds and Risk Country
On the other hand, the dollar bonds go back in their entirety. He Bonar 2041 lower 3.2%, the Global 2041 it does 3.1% and the Bonar 2035 loses 3%, like the Bonar 2038.
The dollar titles presented generalized price drops in the last week of August and lost 3% on average. On the other hand, the titles under local law replicated the dynamics in -3.1% and the bonds adjusted by CER stood out among the sovereigns in pesos with an average rise of +3.2%.
The last data of country risk (EMBI, prepared by JP Morgan) of August 29 showed a value of 829 basic points and threw a 1% drop with respect to the previous record.
August, a month for oblivion
In Wall Street, Edenor Headed the monthly losses of the Argentine assets after contract 25%. It was followed by Supervielle Group (-24%) and BBVA Argentina (-23%). In addition to the impact by the scandal on the Andis, the monthly fall of the papers was explained from the government’s legislative setbacks in the Congress.
In August, the S&P Merval lost 14.4% to 1,984,845.04 points, while its counterpart in dollars made it 14.3% to 1,463.26 points. At a monthly level, Sovereign titles in dollars retreated between 2.5% and 5.7%, with greater punishment in the titles Local Law against those of New York Law.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
