The Buenos Aires stock market stopped its bullish rally this Wednesday, August 30after approaching a 4-year dollar high, in the midst of a constant search for coverage in the face of local political and economic uncertainty, less than two months before the presidential election.
The leading stock index S&P Merval lost 0.3%, to 681,891 units, after reaching a historical intraday maximum level in pesos of 690,781.66 points the day before, and approaching a 4-year record in dollars (851 points). The leading panel accumulates a rise of almost 50% (in pesos) so far in August.
Among the actions that led the casualties were those of Grupo Supervielle (-3%), those of Transener (-2.2%), and those of Transportadora de Gas del Norte (-2%).
The growing uncertainty about the near future of Argentina leads to hedging at a time when there is a marked flight from holdings in pesos, operators agree.
In Wall Streetmeanwhile, the Argentine company papers They traded with a majority of pullbacks. Notable decreases in Supervielle (-3.6%); Banco Macro (-2.9%); and BBVA bank (-2.9%).
Bonds and country risk
In the fixed income segment, the dollar bonds they operate with majorities of casualties. The falls are led by the Global 2030 (-3.3%), the Overall 2029 (-3.1%) and the bonus 2030 (-1.3%).
In that framework, the risk countryprepared by JP Morgan bank, bounces 0.4% to 2,054 unitsfacing a level all-time high of 2,976 units Registered just over a year ago.
Source: Ambito
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