On the contrary, the papers of YPF (+1.4%); Globant (+1.1%); and Loma Negra (+1.1%).
In fixed income, Argentine bonds traded slightly higher, so the country risk it yielded 0.4% to 2,458 units.
This Monday, given the national holiday -moved from August 17- for the Passage to Immortality of General José de San Martín, BYMA’s S&P Merval does not operate, which rose 4.1% last week (+3.9% measured in dollars at the implicit exchange rate).
For their part, the US stock indices fell at the beginning of the week, as did the world markets, after the Weak economic data from China reignited fears of an economic slowdown in the world’s second largest economy.
The Dow Jones Industrial Average was down 0.4%, the S&P 500 was down 0.4%, and the Nasdaq Composite was down 0.1%.
China’s central bank cut interest rates to revive demand as data showed an unexpected slowdown in the economy in July. with activity in factories and retail affected by Beijing’s zero COVID policy and the real estate crisis.
Shares of Chinese e-commerce giant Alibaba and Internet company Baidu, which are listed in the United States, They fell by more than 1% each.
Tech and mega-cap growth stocks were mixed, while banks fell 1.1% after six straight weeks of gains.
“With the recent rally we’ve had from the June lows, this gives investors a reason to pause today,” said Robert Pavlik, senior portfolio manager at Dakota Wealth Management.
Energy stocks led losses among 11 major S&P 500 sectors as crude prices fell on concerns about demand in China, the world’s biggest crude importer.
Oil stocks Exxon Mobil Corp, Chevron Corp, Halliburton Co and Marathon Oil Corp sank between 3.7% and 5.8%.
Wall Street has risen in recent weeks, and the benchmark S&P 500 index has recovered half of its losses this year, as optimism seeped back into the markets after data raised hopes that the US Federal Reserve could deliver a soft landing for the economy.
The S&P 500 and Nasdaq posted their fourth consecutive week of gains on Friday, despite Federal Reserve officials pushing back expectations that the central bank will end its rate hikes sooner than expected, and economists they warned that inflation could return in the coming months.
Source: Ambito
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