The Argentine stocks fell up to 4% this Tuesday, September 10, both in Wall Street as in the local stock market, after a significant bullish rally at the beginning of September. In turn, the sovereign bonds They turned around after a positive start and also fell, so the country risk was one step away from 1,450 points.
In the Buenos Aires stock market, the S&P Merval lost 1.2% in pesos to 1,717,978.910 unitsafter the previous day shares will mark significant increases.
In the leading panel, the papers that fell the most were those of Southern Gas Transporter (-2.9%) Macro Bank (-2.9%), and Edenor (-2.5%).
Argentine stocks on Wall Street
On Wall Street, ADRs also did not have a positive day, and halted the bullish rally of the beginning of the month. In this context, the shares of Bioceres sank 13.4% after presenting a balance sheet below market expectations and announcing that marketing in the US will be delayed.
In this regard, Federico TruccoCEO of Bioceres, said on Tuesday that The company will take at least two years to start marketing its genetically modified wheat HB4 in the United States.after the government of the North American country approved the cultivation of that product on its land, reported Reuters.
In the quarterly balance sheet released this Tuesday, the company indicated that recorded revenues of US$124 millionrepresenting a year-on-year growth of 18%. In addition, for the entire fiscal year, sales increased by 11% to US$464.8 million.
Bonds and country risk
In the fixed-income segment, meanwhile, dollar bonds closed with general declines, after starting the round with a positive trend.
The sovereign bonds that fell the most were the Global 2035 (-1%), followed by Bonar 2029 (-0.9%) and the Bonar 2038 (-0.8%)
“Slight setback today after yesterday’s good rise. We continue with the same thesis, We need good data on money laundering (for now a proxy for the level of deposits) and collections, so that the good mood regarding sovereign debt continues.“, said Nicolás Cappella, Sales Trade at IEB.
In this context, the country riskmeasured by JP Morgan, rose 0.2% or three points to 1,445 units.
Source: Ambito
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