For its part, the leading stock index S&P Merval of Buenos Aires lost 04%, to 131,009.08 units, after closing on Thursday with a rise of 4.5% to a historical level of 131,490.91 points. In the leading panel, the biggest decreases were Banco BBVA and Cresud (-2.6%) and the biggest rise, Sociedad Comercial del Plata (+2.6%).
Operators maintain that this session closed lower due to the “Foreseeable profit-taking after the sharp rise the day before, driven by shares in the energy and financial segments.”
“It is worth mentioning that, when measured (the Merval) in the North American currency, the index is closer to its historical minimums than to its maximums”said Portfolio Personal Inversiones and added that “in any case, so far this year it registers a gain of 9% with 37 points that separate it from its closing value of 2021.”
Bonds and country risk
With the market awaiting further definitions on the implementation of economic measures announced by the new Economy Minister, Sergio Massa, who will seek to channel the country’s accounts, in the fixed income segment, sovereign bonds closed down as much as 2%.
They led the declines this Friday, Global 2046 (-2%), Global 2035 (-1.7%), and Bonar 2029 (-1.2%). For its part, the Global 2038 (+1.4%) was saved from the decline. Meanwhile, andhe country risk prepared by the JP.Morgan bank rises 0.9% units, to 2,468 basic points.
“Also affected by this climate of impatience, sovereign bonds fall again, erasing part of the gain they accumulated since last week”said the clearing and settlement agent Cohen and added: “At the moment the average price of the sovereigns is located at 24 dollars, losing attractiveness in the daily dynamics of the market beyond discounting the worst restructuring scenarios.”
Source: Ambito
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