The Buenos Aires stock market falls off by second consecutive day this Wednesday, September 20, at context of a global weakening of the dollar and the expectations of investors about the monetary policy decision of the Federal ReserveUS (Fed), with regional impact.
He S&P Merval by BYMA yields 0.6%to 573,120.27 units, after falling 1.5% in the last round. However, in the weekly cumulativethe stock index remains at positive grounddue to the 3.1% increase last Monday.
As far as the monthhe BYMA leading panel accumulate one low of the 12.3%with almost all stocks in negative territory. Only two papers manage to escape to the negative trend: Aluar earns 1.8%, while Ternium rises 1.3%.
“Under a gaze of five wheelsyes, a discrimination in favor of materials companies as TXAR (+29%) and ALUAR (+18%), financial as BYMA (+20%) and VALO (+12%), and basic consumption as COOL (+16%) and LEDE (+16%). That is, the market continues biased by “defensive” actionswhose flows are indexed to the official or financial dollar”they pointed out from Delphos Investment.
In the leading panel, the more salient setbacks of the day are those of Southern Gas Carrier (-2.7%); Argentine Stock Exchanges and Markets (-2.6%); and Northern Gas Carrier (-1.8%). Meanwhile, the biggest increases are those of Macro Bank (+1.5%), Cresud (+1%) and YPF (+0.9%).
On Wall Street, Argentine stocks operate with major losses. The ones that fall the most are Southern Gas Carrier (-23%), Galicia Financial Group (-2.2%) and BBVA (-2.1%). Meanwhile, the only ones that rise are those of Cresud (+1.1%).
On the external front, this Wednesday the Federal Reserve of the US will make the decision to maintain Interest rates unaltered or will adjust them in its fight against inflation.
An even result in the August primary election and the accelerated inflationbehind the devaluationhave produced a combination that led investors to dollarize their holdings across the board.
The Government recently launched a series of measures that seek to increase the purchasing power of the population and calm social tensions with the consequent pressure on the weakened treasury coffers, in the midst of a prolonged economic crisis with a inflation estimated at a 169.3% for this one year.
Bonds and country risk
In the fixed income segment, dollar bonds operate with majority of casualties. Those who fall the most are Global 2041 (-1.5%), the Global 2035 (-1.4%) and the Bonar 2030 (-1.4%). Meanwhile, the only ones that register increases are the Global 2029 (+1.5%), the Bonar 2038 (+0.6%) and the Bonar 2041 (+0.2%)
For his part, the risk country -as measured by JPMorgan- operates stable, 2,194 units.
Source: Ambito
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