Argentine ADRs fell while country risk exceeded 2,600 points

Argentine ADRs fell while country risk exceeded 2,600 points

Before the national holiday, the Argentine financial market remained closed. In this context, only the shares of Argentine companies were listed on the New York Stock Exchange.

For Labor Day, the Argentine financial market remained closed. While, the ADRs of Argentine companies that operate in New York closed with the majority of losses while the country risk remained above 2,600 points.

The main decreases were for Banco Supervielle (-5.4%), Central Puerto (-3.3%), and Despegar (-2.9%). Meanwhile, the rise of Corporación América stood out with 8.6%. For its part, country risk, the index prepared by JP Morgan, fell 0.5% to 2,671 points.

In turn, US stocks closed on Monday little changed, following the news over the weekend of First Republic Bank’s asset auction and will be positioned for the Federal Reserve’s expected interest rate hike at its meeting this week.

According to preliminary closing data, the S&P 500 index lost 2.15 points, or 0.05%, to 4,167.33 points; while the Nasdaq Composite Index fell 14.83 points, or 0.12%, to 12,211.75 points. The Dow Jones Industrial Average fell 50.42 points, or 0.15%, to 34,047.74.

The Buenos Aires stock market beat the blue dollar in April

The leading stock indicator S&P Merval of Bolsas y Mercados Argentinos (BYMA) rose more than the blue dollar in April, as it shares had a gain of up to 142%according to the main financial indicators.

BYMA’s leading panel gained 21.3% in pesos and 8.8% in dollars in the monthaccording to the variation of the price of Cash with Settlement (CCL).

In the general panel, the stock species rose to 142%, while the leading papers climbed up to 47.8%.

For his part, sovereign bonds in dollars succumbed again and registered falls of up to 20%in the fourth month of the year.

Source: Ambito

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