The shares leading the declines are: Transportadora de Gas del Sur (-2.2%); Sociedad Comercial Del Plata (-1.7%) and BYMA (-1.4%). Meanwhile, among the increases, the papers of Grupo Financiero Galicia stand out (+1%); Transener (+0.7%) and Banco BBVA (+0.5%).
The Fed raised rates three-quarters of a percentage point as it battles America’s worst inflation in 40 years.but noted that future borrowing cost hikes will be made in smaller steps, to assess “cumulative monetary policy tightening.”
Likewise, the shares of Argentine companies listed on Wall Street operate unevenly. Among the increases, Mercado Libre (+4.4%) stands out; Cresud (+1.3%) and YPF (+1.1%). While the losses are headed by Globant (-4.4%); Irsa (-3.7%) and Telecom Argentina (-2.6%).
It should be remembered that on Wednesday Argentine financial assets closed the second day of the month with strong declines framed on one side by short range profit takingand on the other, affected by the increase in the interest rate by the US Federal Reserve as this will complicate business in emerging economies.
Yesterday’s session also revealed that Economy Minister Sergio Massa established a new type of dollar for expenses with credit cards for foreign tourism in the country. Thus, and with the idea of capturing more dollars for reserves, these consumptions will take the value of the ‘MEP’ dollar or stock market dollar as a reference. The government expects to capture some US$1.1 billion for this operation between November and December, he added.
Bonds and country risk
In the fixed income market, dollar bonds operate with most losses. They are headed by Bonar 2035 (-3.3%); Global 2029 (-3%) and Global 2041, with a decrease of -2.5%.
Meanwhile, the country risk measured by JP Morgan banking falls one point to 2,567 units.
Source: Ambito
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