The shares of the S&P Merval show a bearish trend this Friday, like the bonds in dollars. The ADRs of Argentine companies listed on Wall Street are also falling.
The Port bag operates with a drop of 2.87% in its main index, the S&P Merval, which stands at 240,621.910, on a day in which the New York Stock Exchange also behaves with a bearish trend, after an employment report in the United States that showed that the largest economy of the world added jobs at a solid pace in February, which would play in favor of the Federal Reserve (FED) increase interest rates for longer, as expected. However, the variable that most affects this dynamic this Friday is the problem of the SVB bank, a key entity for the technology sector, which is going through a severe crisis.
At the local level, what is hitting the markets is the result of the debt swap launched by the Government this Thursday, which obtained a acceptance close to 57.7%, according to some sources, and analysts consider that this result is below the “floor” zone of 65/70% expected by the Government. But, from the ruling party, they highlighted the good level of participation and disseminated an acceptance level of more than 60%.
So, The shares that make up the S&P Merval operate with a bearish majority and drops of up to 5.18%. Meanwhile, Argentine bonds in dollars show falls of up to 2% this Friday. The only one that behaves upward is the GD41, with a meager rise of 0.02%.
ADRs down on Wall Street
In Wall Streeton the other hand, the shares of Argentine companies they all display red numbers on the panels. The ADR that loses the most this Friday is that of Pampa Energía, which fell 5.35%, followed by YPF, with a fall of 4.15%, Edenor fell 3.14% and Transportadora del Gas del Sur fell 0, 98%
Financial ADRs also have negative numbers: Grupo Financiero Galicia (-2.71%), Banco Macro (-2.3%), BBVA (-1.42%) and Grupo Supervielle (-0.47%).
And, finally, Central Puerto loses 3.71%, Telecom falls 2.37%, IRSA falls 0.79%, Loma Negra loses 1.47% and Mercado Libre, -1.28%.
Source: Ambito
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