The porter bag interrupted the rally and fell for the first time in 6 days due to foreseeable profit-taking after previous strong rises that pushed the leading panel to renewed all-time high values. Meanwhile, sovereign bonds in dollars operate on the rise and ADRs fall to 5%.
He S&P Merval it lost 2%, to 421,114.49 points, after advancing a strong 5.11% in the previous day and marking a record level of 430,470.64 units, led by the improvement of the main ADRs after two previous holidays. “The performance of the main Argentine stock market index has been superlative,” said Portfolio Personal Inversiones, noting that “the Merval is 45.2% above its valuation at the end of 2022 (measured in dollars).” Meanwhile, ADRs operate with a majority of decreases of up to 4% led by Grupo Financiero Galicia, Pampa Energía (-4%), Banco Superville (-3.6%), Transportadora Gas del Sur (-3.5%). Contrariwise, the shares of Despegar rose up to 6%, Irsa (2.3%) and Telecom Argentina (2.2%).
In the external context, all eyes are on the second part of the semi-annual conference of the Federal Reserve Chairman, Jerome Powell, before Congress.
on the eve, Powell told lawmakers that expecting further Fed rate hikes is “a pretty good guess” for where the central bank is headed if the economy continues in its current direction.
Bonds and country risk
In the fixed income segment, sovereign bonds in dollars continue their positive streak led by Global 2038 (8.1%), Global 2046 (3.4%), Bonar 2030 (3.1%) and Bonar 2038 ( 3%). Thus, the country risk operates stable at 2,243 basis points.
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.
