The porteño bag operates downwards this Thursday, September 7 for the seventh consecutive day, in the middle of a acceleration due to profit taking given the political and economic fragility of the country.
In this way, the index S&P Merval has already almost erased all its post-STEP dollar gains. From last August 16 – when his rally began – until last August 29, the leading panel It had risen more than 13% in hard currency (CCL), reaching 852 points. Since then, until now it has accumulated a decline of more than 11%, measured in CCL dollars, to be around the 754 points.
Market agents agree that savers prudently evaluate their businesses ahead of the presidential elections in October, which generates portfolio dollarizationand the macro slowdown with high inflation and devaluation of the currency.
Merval and actions
In this scenario, the leading index S&P Merval Buenos Aires loses 1.3% to 576,333.99 units, after dragging a strong negative trend of 14.6% in pesos in the six previous sessions.
Towards the end of August, this indicator recorded its intraday all-time high level at 690,781.66 points, a month in which it stood out for an increase of 43% measured in pesos. However, since the beginning of September, he has been reversing that trend and has already accumulated seven days of decline.
Thus, this Thursday, the stocks go down up to 4.9% in the leading panel. The one that sinks the most is Pampa Energía, followed by Grupo Financiero Galicia, which falls 2.9%, and Central Puerto (-2.5%). Meanwhile, the only one that shows an upward trend is Terniun Argentina (+0.2%).
Argentine shares on Wall Street
The ADRs of Argentine companies listed in New York also show a downward trend. They have losses of up to 4.9%, led by the role of Pampa Energía; YPF (-2.9%) and Banco Macro (-2.8%).
Despegar’s stock also loses value, falling 2.9%. Meanwhile, those of Mercado Libre (+0.9%) and Loma Negra (+0.3%) rose.
Bonds and country risk
In the fixed income segment, Argentine bonds in dollars They have a bearish majority on the day. Those that lose the most are the Global 2038 (-1.3%), followed by the Global 2035 (-1.2%) and the Bonar 2041 and Bonar 2035, which both lost 1.1%.
For its part, Global 2029 rises 4.1% and is one of the few that registers increases.
In that framework, the risk country falls a slight 0.1% this Thursday and is located in the 2,162 pointswith a slight improvement, but still above 2,100.
Source: Ambito
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