The Buenos Aires stock market rebounds this Tuesday, March 21, due to renewed interest in financial and energy papers after recent falls and in the midst of the attention generated by the crisis with banks on the international stage.
The porter bag rebounds this Tuesday, March 21, due to renewed interest in financial and energy papers after recent falls and in the midst of the attention generated by the crisis with banks on the international stage. Within this framework, most of the shares are recovering after sharp falls unleashed by the bankruptcy of Silicon Valley Bank and the expectation of Federal Reserve news (Fed). In this context, ADRs rise up to 8% and bonds achieve a rise of up to 2%.
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He S&P Merval it gains a firm 2.89%, to 227,436.39 points, against an adverse drag of almost 1% in the previous two consecutive sessions at the close. “The Merval (…) could find support (at 220,000 points), since the index has maintained an upward trend since Wednesday of last week,” said Alexander Londoño, market analyst at ActivTrades. The increases of BBVA up to 5% stand out, followed by YPF (4.3%) and Edenor (4%).
For their part, Argentine papers on Wall Street fly up to 8% thanks to Edenor, followed by BBVA (5.6%) and Despegar (5%).
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The asset trend remains centered on two patterns: the continuation of the global financial crisis and the decision of the US Federal Reserve on Wednesday regarding its interest rate policy.
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars operate with gains of up to 5% led by Bonar 2041, followed by Bonar 2035 (2.9%) and Global 2038 (2.5%). Conversely, Global 2035 (-1.1%) and Global 2029 (-1%) fell. Thus, the country risk falls 0.8% to 2,364 points.
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