The leading panel maintains the strong bearish trend by taking profits at a time of investment uncertainty. ADRs also trade negative.
The porteño bag starts this Monday, September 11, down by profit taking, for the ninth consecutive day, at a time when investment uncertainty is increasing due to the economic and political scenario. Meanwhile, the bonuses They also operate negative. The situation does not improve either with the papers listed in Wall Street.
He S&P Merval It erases the initial rise and falls 2.9% to 516,988.94 and has already accumulated a decrease in pesos of 20% so far this month. While the Merval in Dollars It is not in a better situation: it falls 1.4% to 706.34 points, a drop of 15% in 30 days.
He leading index It gained a strong 43% in August and marked a historical intraday maximum level of 690,781.66 points at the end of that month due to hedge purchases encouraged by exchange rate instability.
“The Merval took an upward momentum since mid-March, in which it managed to gain more than 220% (measured in dollars), and more than 230% throughout the year, perhaps explained by a excess liquidity turned towards stocks, which raised their prices even when the financial exchange rate accelerated and expectations of a devaluation of the official exchange rate were notorious,” he said Mauro Natalucciby Rava Bursátil.
While in wall street, Argentine papers are trading with drops of up to 3% led by YPF (after the adverse ruling for Argentina), Superville Bank (-2.2%) and Take off (-1.9%).
Bonds and country risk
In it fixed income segmentthe dollar bonds They fall across the board to 3.5% led by Global 2035, Global 2029 (-2.9%) and Global 2041 (-2.8%). Thus, the country risk measured by JPMorgan operates at 2,153 basis points.
Source: Ambito
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