In a logical rebound after Monday’s collapse, Argentine assets operate in green.
The Argentine papers that quote on Wall StreeT bounce this Tuesday, September 9, after the collapse of up to 25% recorded on the first post -election day. Meanwhile, dollars in dollars operate with profits, and Merval recovers with a rise greater than 2%.
Among the main advances of ADRs Gas from the South (4.7%), Telecom Argentina (2.9%), YPF (2.1%) and IRSA SA (2%). Meanwhile, it only operates with bioceres losses, after a bad corporate balance.
The rebound comes after the strong falls on Monday, which left the shares in lower values and enabled opportunity purchases by investors seeking to position themselves at “discount” prices.
“The market reacted adversely to the results of the legislative of the province of Buenos Aires, with 16.4% drops for the Merval in CCL and 8% average for the new York law bonds. The dollar rose 4% but remained within the band, while the dollar futures rose throughout the curve. We believe that from here in more the situation is very challenging for the government, it must face cost Whatever the direction you take, and must administer them, ”said Juan Manuel Franco economist chief of Grupo SBS.
In the leading panel, the S&P Merval advances 1.8% to 1,763,263.75 points while the Merval in Dollar Scale 2% to 1,227.58 points. The main increases of the day are led by Metrogas (3.5%), Transener (3%) and southern gas transporter (2.8%). CAEs Norte Gas (-1.4%), IRSA (-0.8%) and Grupo Financiero Galicia (-0.2%).
Bonds and Risk Country
On the other hand, the dollar bonds with an upward trend, with rises of up to 2.4% headed by Bonar 2029 and the Global 2035 (1.4%). Thus, the country risk measured by JP Morgan moves away from the 1,100 basic points in which it was located yesterday, after the electoral defeat of Freedom advances.
Source: Ambito
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