Losses from leading stocks were led by Central Port (-2.7%); Telecom Argentina (-2.7%); BBVA Argentina (-2.3%); Cablevision (-2.2%); and Holcim (-1.7%).
On the other hand, the rises were recorded by Pampa Energia (+1.3%); Commercial Society of Silver (+1%); Cresud (+0.8%); YPF (+0.6%) and Aluar (+0.5%).
“In the Merval, the 92,000 points have been acting as a resistance, while down, the 90,000 points have acted as support lately”said Alexander Londoño of ActivTrades.
In New York, the papers of Argentine companies ended the session with the majority of results in red, among which stood out BBVA Bank (-3.6%); Telecom Argentina (-3.5%); take off (-2.7%); Central Port (-2.7%); and Banco Macro (-1.8%). Conversely, gains were led by Edenor (4%); Tenaris (+2.1%); YPF (+1.2%); Pampa Energia (+0.9%); Globant (+0.7%); and View (+0.7%).
Concerns about world inflation affect the markets due to a greater aversion towards risky investments. US inflation, the most aggressive monetary policy since the Federal Reserve, the war in Ukraine and the advance of COVID in China are issues that weigh on investor sentiment.
Bonds and country risk
In the fixed income segment, the main bonds in dollars lost up to 2.1%, with a country risk rose 10 basis points to 1,733 unitsagainst his record 1,991 units achieved at the beginning of March.
Again titles in pesos that adjust for inflation were the best of the day, with rises that reached up to 2% (Par).
The consumer price index (CPI) for March will exceed 6%, becoming the highest monthly inflation of the year, Economy Minister Martín Guzmán announced on Monday night.
“Given the strong acceleration that would have marked the CPI in March, the inflationary dynamic is once again at the center of the scene. This is not only a factor of economic instability, but also increases the tension within the ruling party. “Cohen analysts said.
For his part, Gustavo Ber, an economist at Estudio Ber, indicated that “A hard data on inflation will arrive that could accentuate concerns regarding the trend of external markets, as well as the jerks in the political scenario in view of the fact that it is preheating for next year’s electoral race.”
Source: Ambito
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