In New York, the shares of Argentine companies rebounded hand in hand with the financial sector papers: BBVA gained 5.6%; Banco Macro rose 4.4%; and Grupo Financiero Galicia increased by 3.6%.
Argentine stocks recovered This Wednesday, March 8, on Wall Street, after the beating suffered the day before, in line with the behavior of foreign markets, while a new rate increase by the US Federal Reserve (Fed) begins to be discounted.
In New York, the shares of Argentine companies rebounded hand in hand with the papers of the financial sector: BBVA gained 5.6%; Banco Macro rose 4.4%; and Grupo Financiero Galicia increased by 3.6%. Argentine shares in New York fell as much as 7% on Tuesday, led by energy companies.
On the Buenos Aires stock market, the BYMA S&P Merval index rose 1.9% to 251,265.83 pointsafter losing 2.6% in the previous day. The area of 250,000 points is considered critical by analysts to define a trend soon.
In the leading panel, the main promotions were for the banks thanks to BBVA (+4.6%), Macro (+4.2%), and Grupo Financiero Galicia (+4%). Losses were led by Transener (-2.9%), Transportadora de Gas del Norte (-2.4%), and Grupo Financiero Valores (-1.6%).
Bolsas y Mercados Argentinos (ByMA) ordered that from next Monday its activity will be reduced, 60 minutes less than currently.
In the fixed income segment, the main bonds denominated in dollars operate with falls of up to almost 2%, such as the Global 2029 (-1.9%); Global 2041 (-1.8%); and Global 2035 (-1.8%).
Thus, the Argentine country risk, measured by JPMorgan, fell 0.3% to 2,039 basis points.
Source: Ambito
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