Dollar bonds are trading in the red with falls of up to 2.5% and the country risk exceeds 1,500 basis points. On Wall Street, ADRs fall up to 2.4% led by Telecom Argentina, Edenor (-2.1%) and Banco Supervielle (2%).
The Buenos Aires stock exchange The day begins this Wednesday, August 21, with an expected profit-taking after accumulating a series of nine consecutive increases due to positive signs of the economy and attractive values. In this context, the dollar bonds They operate in the red and the country risk exceeds 1,500 basis points.
The index S&P Merval The stock market fell by 0.8% to 1,646,746.58 points, after accumulating a rise of 14.26% in the previous sessions since the close on August 7. In this way, the shares of the local stock market fell by up to 2.1% led by Grupo Supervielle, Telecom (-2%) and BBVA (-1.9%). Only the rises of Transener (0.9%) and Transportadora Gas del Norte (0.3%) stand out.
“Some traders are leaning more towards correction after the index once again challenges the 1,300 point level measured in dollars, beyond the expectation that a possible future recategorization of ‘MSCI’ to emerging markets arouses,” said economist Gustavo Ber. A possible upgrade of Argentina’s rating to emerging market by the provider of MSCI indices could generate a flow of investments in domestic stocks for around US$1 billion, said JP.Morgan in a recent report.
“The (Government’s) roadmap works if the economy “Get financial dollars with a country risk of 1,470 basis points”said the consultancy EcoGo. It estimated that “today they are not in sight beyond a possible repo with gold and central bank bonds (BCRA) guarantee that would be negotiated and the expectation that (the US presidential candidate Donald) Trump wins and throws us a lifeline.”
The BCRA accumulates so far in August Purchases of foreign currency on the market for 445 million dollarscompared to acquisitions worth 122 million in the same period in July.
On Wall Street, ADRs fell up to 2.4% led by Telecom Argentina, Edenor (-2.1%) and Banco Supervielle (2%). The increases correspond to Tenaris (1.5%), Globant SA (1.4%) and Loma Negra (0.6%):
Bonds and country risk
In the fixed income segment, the dollar bonds give way up to 2.5% thanks to the Global 2029, Global 2035 (-1.2%) and Bonar 2029 (-1.1%). The country risk measured by JPMorgan thus rose 27 units to 1,516 basis points.
Source: Ambito
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