Meanwhile, the bonds of the middle section such as the Global 2035 lose 8.5% and the Global 2038 falls 8.6%. Finally, in the long section, the bonds lost 8.3% and 9.3% in Global 2041 and 2046 respectively.
Guzmán’s resignation as head of Economy and the appointment of Silvina Batakis as head of the portfolio with a more heterodox profile, generates a climate of nervousness in the financial market.
“The conflict has tipped the field in favor of Cristina (Kirchner), who is also concentrating power again,” political analyst Ricardo Rouvier told Reuters.
Batakis is considered close to the vice president, the most powerful politician in the government coalition and a staunch defender of the state’s intervening role in the economy and the expansion of public spending.
ADRs and S&P Merval
In this context and as expected, the Argentine papers listed on the Wall Street collapsed up to 10% led by Edenor, followed by YPF SA (-8.7%), Banco Macro (-8.5%) and Pampa Energía (-8.3%). Contrary to market sentiment, Mercado Libre and Despegar rose up to 2%.
The Buenos Aires stock market shows an upward trend due to opportunity purchases. The S&P Merval stock index it rises 3.5%, to 92,242.94 points, against a fall of 1.02% on the day before after the appointment of the new minister.
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.
