The greatest decreases in the leading panel were Loma Negra (-5.2%), Pampa Energía (-4.3%) and Central Puerto (-4%). The rise of Transportadora de Gas del Norte (+ 1.3%) stands out as it is the only paper that trades in positive territory for the day.
For their part, ADRs are trading with the majority of losses, and leading the biggest losses, Loma Negra (-5.8%), Edenor (-4.7%), and Despegar (-5.1%). While the largest rise are Mercado Libre (+ 1.6%), and Irsa (+ 0.6%).
“This Sunday the mid-term general elections will be held and the market speculates the different possible results”, assured Portfolio Personal Inversiones (PPI) and added: “The results of the Province of Buenos Aires, the Autonomous City of Buenos Aires and the national aggregate will be a mandatory stop of all political analysis, especially, to infer that it could happen in the face of the ( presidential ballot of) 2023 “.
“There is a lack of certainty as to what the Government is going to do from here onwards”, assured the economist Fausto Spotorno.
“It happens that after the elections will come the reactions and political strategies of the ruling party, and of the opposition, which are key to assessing the viability of facing an area of consensus that allows progress towards an agreement with the IMF and a convergence in economic imbalances “said the economist Gustavo Ber.
And he added: “Investors expect news in the short term since they recognize that the current dynamics is not sustainable, and that is why urgent definitions are required to prevent a new crisis in time.”
Bonds and Country Risk
In fixed income, the main bonds in dollars operated with the majority of losses, which yielded up to 1.7%.
For its part, the Argentine Country Risk it rises 0.4% to 1,746 points, from its highest level since the debt swap with private companies.
In turn, bonds in pesos adjusted by CER rose to 0.3% after it was known that retail prices rose 3.5% in October (more than expected by the market), with which they accumulated a 41.8% increase so far this year and a year-on-year increase of 52.1%.
Source From: Ambito
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