The market remains attentive to the political situation after the Chamber of Deputies gave half-sanction to the omnibus law on Friday, but this Monday the argy variable income turns red.
The leading index of Argentine Stock Exchanges and Markets (BYMA), the S&P Merval erases the initial rise that it registered in the first operations this Monday, to lose -5.6%. All this in the context in which the Chamber of Deputies gave general half-sanction on Friday to the bill called “Omnibus Law”.
On Tuesday, the articles of the norm, which includes the privatization of state companies and grants special powers to the president, among others, They will be voted on individually.
Local actions
As mentioned above, the leading index of the local stock market falls sharply: Supervielle leads the red table (-8.4%); Edenor (-7.8%); Cresud (-7.4%) and Banco Macro (-7%). Thus, it is a red Monday for the Buenos Aires stock market, which does not show increases in any of its shares on the Leader Panel. The fall is due to profit taking on the 5th of the month.
Argentine shares on Wall Street
Meanwhile, the shares of Argentine companies listed on the New York Stock Exchange (NYSE) also operate with a total loss. In this case, the biggest falls are led by: irsa (-6.4%); Galicia Financial Group (-6%); Central Portor (-5.2%) and Banco Macro (-5%).
In this framework, the International Monetary Fund (IMF) extended the duration of the credit program with Argentina for US$44,000 million for three months to give the new government time to implement the current program to stabilize its economy and accumulate reserves.
Source: Ambito
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