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S&P Merval gives way for the fourth round in a row and ADRs fall up to 6%

S&P Merval gives way for the fourth round in a row and ADRs fall up to 6%
February 8, 2024 – 2:47 p.m.

This occurs on a day marked by doubts regarding whether the omnibus law will be discussed again, after statements on the matter by President Javier Milei.

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The Buenos Aires stock market operates in decline this Thursday February 8 and chains his fourth day in red in a row. This occurs on a day marked by the doubts about If the omnibus law will be discussed againafter statements on the matter by the president Javier Milei.

He S&P Merval falls 1.5% to 1,135,733.43 unitsa day after retreating a strong 5.2% in response to the rejection and return to commissions of the omnibus law promoted by the Government. In the last three daysthe stock index registers a 12.5% ​​drop.

In that framework, the Actions of the leading panel lose up to 5.5% of its value this Thursday. Those that fall the most are the titles of Transener (-5.5%), Edenor (-5.4%) and Supervielle Group (-5%).

In this context, since IOL Invertironlinepointed out that “the ideal in this type of situations of greater volatility is to be cautious and do not act in a hurryat least until there are further definitions and the market mood calms down.

They also indicated that, after the legislative defeat, the next steps of the administration of President Javier Milei they followed wrapped in doubts and they warned that no option was ruled out to implement the proposed reforms.

Argentine shares on Wall Street

Meanwhile, the shares of Argentine companies that are quoted in Wall Street fall up to 6.1%as is the case of Supervielle Group. Among those that give in the most, they are followed by Edenor (-6.1%) and Central Port (-4%). The only one that goes up is Free market (+1.4%).

Source: Ambito

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