Thus, the country risk measured by JP Morgan banks fell 3.9% to 2,544 points.
Analysts and operators do not rule out the next announcement of new measures that seek to rearrange the accounts in a quarter with lower settlements in the agricultural sector. Fears of a worsening of a global recession process, with higher interest rates and high inflation, deepen the risk aversion that hits the local market.
“Financial markets are more sensitive to financial conditions than the real economy, more so than in the past. And, as long as inflation and activity remain ‘hot’, the odds of a major financial shock even without recession materialize.” Delphos Investment said regarding the global situation.
“Investors’ doubts about the domestic economy continue to be present, in the face of difficult-to-control inflation and a high fiscal deficit“, stated Research for Traders.
The market speculates with an upcoming launch of new economic measures to help reduce high inflation that could exceed 100% this year, in the midst of a large fiscal deficit, exchange controls and reduced reserves in the coffers of the Central Bank.
“This week will be marked by the results of the leading inflation indicators for October. Also due to the evolution of the foreign exchange market given that, as is known, demand is under more pressure during the last week of each month.clearing and settlement broker Cohen said.
ADRs and S&P Merval
The shares of Argentine companies operated with most losses this Monday on Wall Street.
The sharp declines on the New York Stock Exchange were led by the shares of Transportadora de Gas del Sur (-3.5%); BBVA Bank (-3%); followed by those of Cresud (-2.7%). The papers of Central Puerto also fell sharply (-2.3%); Free Market (-2.2%) and Banco Macro (-2.2%).
The leading S&P Merval stock index went on to gain 0.6% to 139,733.39 units, after trading most of the session lower on short profit-taking.
Among the shares that rose the most were those of Northern Gas Carrier (+4.5%); Banco Supervielle (+3.3%) and YPF (+3.2%). Meanwhile, among the shares that fell the most were those of Central Puerto (-3.1%); Transportadora de Gas del Sur (-2.5%) and Cresud (-2.1%).
Source: Ambito
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