BYMA’s S&P Merval stock index fell 0.4% to 90,751 points, after improving 0.65% on Tuesday and losing 1.55% at the start of the week. The main falls are recorded by the shares of Edenor (1.7%), Cresud (1.5%) and Central Puerto (1.25%). Meanwhile, the most important increases are recorded by Telecom (0.9%) and Securities (0.8%)
“The beginning of the week was not the desired one for the majority of Argentine equity holders,” said Portfolio Personal Inversiones.
“Global stocks fall… as a surprise 50 basis point hike in Australian rates sparked concerns about monetary policy tightening ahead of Thursday’s ECB (European Central Bank) meeting and the US inflation data out on Friday,” he added.
Sovereign bonds in the over-the-counter market lost an average of 0.2%, in a reduced operation and offer of business, while the Argentine country risk JP Morgan Bank It rose 0.2% to 1,935 points, the highest in two weeks.
“We know that short-term uncertainty can lead to an increase in exposure to dollarized instruments, even more so if we take into account the tightening of the stocks in some items, which increases the demand for financial dollars,” said the settlement and clearing agent Cohen.
He added that “however, with inflation that is far from being controlled, we consider the exposure to bonds and letters that can cover us from it to be prudent.”
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
