The market is affected by the firmness of the global dollar after stronger than expected retail sales in the United States.
The stock index of the Buenos Aires stock market, the S&P Merval, falls sharply for the second consecutive day due to the uncertainty generated by the geopolitical tensions in the Middle East and that keep investor appetite for risk under control. In this framework, sovereign bonds also extend the decline and the country risk exceeds 1,400 basis points.
The index S&P Merval loses 1.8% to 1,176,011.150 points, against a firm retraction of 3.9% on Monday following Iran’s weekend attacks on Israel. For its part, the Merval in dollars operates in the same trend, with a fall of 1.8% to 1,098.72 points.
Local actions
The leading panel turns red with falls led by BYMA (-5.7%); Transener (-4.3%); Sociedad Comercial del Plata (-4.2%) and Aluar (-3.4%). There are no raises on the leading panel.
In that framework, theThe Argentine papers listed on Wall Street replicate the trend with cuts led by Telecom Argentina (-3.6%), Cresud (-3.1%) and Irsa (-2.6%). The only advance is recorded by Globant with 0.3%.
Bonds and country risk
In the fixed income segment, dollar securities lost up to 4% led by the GD46D (-4%) 2038, the GD29D (-3.4%) and the Bonar 2029 (-3%). In this way, andCountry risk measured by JPMorgan increases by 33 units for the second consecutive time and exceeds 1,400 basis points, maximums in 9 days.
Meanwhile, on the curve that adjusts by CER The falls are up to -4.6% and are led by the DIP0, followed by the TZX26 (-3.6%) and the TZX25 (-2.5%).
In the Argentine financial market, signs of global uncertainty are evident today, with falls in assets and the local currency, in the face of the uncertainty generated by geopolitics in the Middle East.
Another headwind is the global strength of the dollar, driven by stronger-than-expected retail sales in the United States.. This reinforces the view that the Federal Reserve (Fed) may not rush to cut interest rates this year.
The peso falls in a controlled manner in the official range to 869, for each dollar, giving ground in the alternative exchange places to 1,083.7 units in the ‘CCL’ stock market, to 1,034.9 in the ‘MEP’ dollar and up to 1,030 units in the marginal (‘blue’).
Source: Ambito
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