On Monday, Argentine assets were boosted by the positive market reaction after the decision of New York federal judge Loretta Preska was announced. However, this Tuesday, investor interest diminished.
After a start with generalized increases product of the favorable ruling for Argentina in Wall Streetthis Tuesday 2 of the Argentine ADRs are trading with drops of up to 2.5% in line with the main indices of the New York Stock Exchange that also decline.
Thus the main losses are for Mercado Libre (-2.5%), Central Puerto (-1.8%), and Cresud (-1.7%).
How Argentine companies fared on Wall Street on Monday
After the favorable ruling of a New York judge, Argentine shares listed in New York, known as ADR, began April with increases of up to 3%in the midst of a context of declines in the US markets.
Argentine assets were driven by the positive reaction of the market after hearing the decision of the federal judge of New York, Loretta Preska.
The judge ruled this Monday in favor of Argentina in the trial over the coupon linked to GDP against the claim of a group of United States investment funds in a lawsuit for US$1.4 billion.
Preska denied the claim of the plaintiffs, who had obtained a favorable ruling in the British courts.
Wall Street opens lower on inflation concerns
The NYSE opened lower this Tuesday, affected by the rise in Treasury bond rates amid inflation concerns.
In the first exchanges, The Dow Jones lost 0.95%, the Nasdaq technology index lost 1.19% and the S&P 500 fell 0.84%.
Source: Ambito
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