Among the actions with the highest casualties, appear YPF (-3.8%), Grupo Financiero Galicia (-2.7%); and Transportadora de Gas del Sur (-2.7%).
The high inflation (CPI), which was 6% in January and reached 98.8% in the interannual measurement, induces placements in the stock market as hedges, operators comment.
The Vice Minister of Economy, Gabriel Rubenstein. explained the day before that the Government it continues “working from the macro and from the micro, so that inflation goes down significantly”. “We hope that, towards the end of the year, the CPI will be close to 3%, with inflation for the year hovering around 60%,” she said.
Foreign markets were keeping an eye on US retail sales data amid concerns that high inflation and a tight labor market would prompt the Federal Reserve to further interest rate hikes this year.
On Wall Street, for its part, Argentine stocks operated with the majority of losses, led by Transportadora de Gas del Sur (-3.1%); YPF (-2.7%); and Central Puerto (-2.2%). Only the roles of Free Market (+1.9%); Edenor (+1.3%); Take off (+0.2%); Pampa Energía (+0.2%); and Supervielle (+0.2%).
Bonds and country risk
In the fixed income segment, dollar-denominated bonds extended their negative streak and lost up to more than 4%. The greatest decreases were recorded by the Global 2038 (-4.1%); the Global 2046 (-3.2%); and the Overall 2029 (-2.8%).
Thus, the risk country measured by JPMorgan it climbed 1.9% and exceeded 2,000 basis points.
Regarding titles in pesos, CER papers operated mixed, with increases led by Boncer 2023 -TC23- (+1.6%), and decreases led by Discount (-2.2%).
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
