For its part, the Buenos Aires stock market cuts a streak of five rises in a row. BYMA’s S&P Merval Index fell 0.1% to 154,946.75. Mirgor’s shares lead the declines (-1.2%), followed by YPF’s (-1.2%) and Banco Macro’s (-0.8%).
Meanwhile, the shares of Argentine companies listed on Wall Street operate with a majority of drops that reach up to 4.1%. Losses are led by YPF papers (-4.1%); Mercado Libre (-3.8%) and Transportadora de Gas del Sur (-3.6%).
“The bets continue directed mainly towards those papers with greater liquidity as a result of which are the preferred vehicles for the rebalancing”, said the economist Gustavo Ber.
The upward trend of the last few days suggests a quick profit-taking, recognized market sources. Investors are keeping an eye on the difficult local economic situation with high inflation, high fiscal deficit with damaging spending and exchange rate pressures.
Consumer prices rose 6.3% in October, with which they accumulate a rise of 76.6% so far this year and 88% in the interannual measurement. This day also The Central Bank once again parted with reserves and in November accumulated sales for some US$911 million.
Source: Ambito
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