The porter bag stops a bullish rally of nine rises in a row, this Thursday, August 24, in tune with global markets, while dollar bonds returned to negative territory after the gains in recent days.
A key fact for the market is the approval of the disbursement of US$7,500 million for Argentina by the International Monetary Fund (IMF), a relevant decision at a time when economic leadership aims to rebuild the foreign currency reserves of the Central Bank.
In this sense, the reference index S&P Merval of Argentine Stock Exchanges and Markets (BYMA) yields 0.4%, after gaining more than 33% in the last nine rounds.
Thus, the most salient losses of the day were recorded by the shares of Cresud (-2.6%); Transener (-2.6%), and Telecom (-2.4%). On the other hand, the biggest rises of the day were for Edenor (+3.2%); Banco Macro (+1.8%); and Aluar (+1.7%).
The Brazilian financial giant Itaú Unibanco announced the signing of a binding agreement to dispose of its subsidiary in Argentina to Macro Bankwhich would explain the good performance of the financial institution both in the local market and in New York.
In this context and during a business meeting, Adelmo Gabbi, director of the Buenos Aires Stock Exchange (BCBA), told the Reuters agency on Thursday that the moment is propitious to invest in the market as a form of value protection, due to the possibility of entering at very low prices.
Argentine ADRs on Wall Street
In Wall Street, the shares of Argentine companies changed the initial trend and replicated that of the local stock market, and registered the majority of losses. The ADR of Grupo Supervielle climbs 3.1%followed by Edenor (+2.1%) and by Banco Macro (+3.5%). The most notable casualties, for their part, are for Irsa (2.8%), Ternium (-2%), and Telecom Argentina (-2,3%).
Bonds and Country Risk
In the fixed income segment, the dollar-denominated bonds They operate with a majority of losses, after a streak of 5 days with increases. It only highlights the progress of the Bonar 2038 -AE38D- (+1.7%) and Global 2029 -GD29D- (+1.9%), while the steepest falls are suffered by the Bonar 2035 -AL35D- (-1.8%) and Bonar 2041 -GD30D- (-1.5%).
Meanwhile, the risk countrymeasured by JP Morgan bank, it rebounded 0.7% to 2,052 units.
Source: Ambito
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