The fall occurs after a precipitation of 8.6% in the first round of the week due to profit taking.
He S&P Merval erases the slight initial rise of the first operations of this Tuesday and falls again for the second consecutive day, in the middle of the president-elect’s trip to the US Javier Milei.
The Buenos Aires index of Argentine Stock Exchanges and Markets (BYMA) registered a fall of 1.3%, reaching 832,486.290. This rally comes after setting an intraday all-time high the previous day, when the stock market experienced a drop of 8.6% due to profit taking, after having accumulated a notable advance of 42.2% the previous week.
The falls in the local stock market were led by Grupo Financiero Galicia (-6.3%), Loma Negra (4.6%) and Banco Macro (-4.7%).
Meanwhile, the few increases recorded by the leading panel are for Edenor (3%), Mirgor (2.2%) and Cresud (2.1%).
Wall Street: Argentine stocks
Meanwhile, the shares of Argentine companies listed on Wall Street moderate the increases of the previous days and operate this Tuesday with a majority of losses. The ADRs thus accompany the sentiment of the New York market that is also rushing this day with its three main indices in red.
The increases are for Ternium (0.7%), Cresud (0.2%) and Tenaris (0.2%). Meanwhile, the losses are for BBVA (-4.7%), Banco Supervielle (-4.6%) and Telecom (-5.6%).
Source: Ambito
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