So far this week, the stock index has accumulated a drop of 8.2%.
He S&P Merval falls for the third consecutive round this Wednesday February 28. This is given the framework of strain between Government of Javier Milei and the province of Chubutfor the funds of co-participation.
In that context, the stock index go back 0.9%until 1,024,643.260 units. In that way, so far weekaccumulates a drop of 8.2% after falling in the first three days of the week.
In that framework, in the local squarethe Actions operate with majority of casualties. The ones that most fall are those of Supervielle Group (-3.2%), Silver Commercial Society (-2.4%) and Cresud (-1.8%). Meanwhile, those who score higher progress are those of Northern Gas Carrier (+1.2%), Pampa Energy (+0.8%) and Southern Gas Carrier (+0.8%).
Argentine stocks on Wall Street: how they operate this Wednesday, February 28
For their part, Argentine stocks that operate in Wall Street operate with majority of casualties. Those who register greater losses are those of IRSA (-2.1%), Bioceres (-1.7%) and Central Port (-1.6%). While the only ones that they improve are those of Macro Bank (+2.1%), Galicia Financial Group (+1.1%) and Southern Gas Carrier (+0.9%).
S&P Merval deepens fall: in what context?
The Argentine assets fell last Tuesday due to skyrocketing sales following a complex political tension in the midst of verbal interweaving central government with some governors provincial for liquidation of funds from the national Treasury.
The situation spread before Justiceaccording to what was made public by the governors of Patagonia Chubut and the strategic Buenos Aires province.
Meanwhile, a federal judge ruled in favor of Chubut and ordered suspend funding cutswhile the Government prepares an appeallocal media report while estimating that the case would be taken directly to the Argentine Supreme Court.
Since the administration of the president Javier Milei was branded as “extortion” to the threat of the oil province of Chubut to cut off the supply of gas and oil starting Wednesday in protest of a cut in a monthly co-participating disbursement. Furthermore, after learning of the ruling of the federal judge of Chubut, the Government of the Nation reported that they will present a per saltum before the Supreme Court.
On the other hand, the western province of The Rioja could not pay off debt recently for some US$26 million and the Buenos Aires governor -and former Minister of Economy- Axel Kicillof did not rule out one eventual own issuance of currency.
In a context of growing unrest, the purchasing power of Argentines is sharply cut by release of public rates and the partial deregulation of the economyWhile the poverty approaches 60% of the population.
Meanwhile, in January was registered on first monthly primary surplus in more than a decade and it comes from recording two consecutive months with a favorable balance in the trade balance, which produced a purchasing renewal mainly in bonds the previous week.
Source: Ambito
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