For its part, the S&P Merval stock index lost 0.9%, to 87,393.09 points, after falling 1.2% the day before, conditioned by the fall in financial exchange rates. In the leading panel, the main decreases corresponded to Transportadora Gas del Norte (-3.7%), Transportadora Gas del Sur (-2.7%) and BBVA bank (-2.3%). The increases were led by Cresud (+2.5%), BYMA (+1.3%), Loma Negra and YPF (+0.5%).
The market analyst, Santiago Llull, in dialogue with Ámbitohe said: “It was a day where the ADRs traded in a mixed way in the US, at the local level today’s day did not show too much volatility. The prices did not mark large amplitudes and this shows the little interest in these assets and is ratified by looking at the volume traded in pesos.. The merval falls again and stands at approximately 87,400 points, and measured in dollars, the merval rises due to the effect of the CCL exchange rate and reaches US$410.”
Llul also assured that “the volume traded today was very low GGAL’s share traded 155 million pesos while the next in descending order was YPFD with only 46 million pesoss (about $225,000). The panel of leading shares showed a large majority of assets in red”. And he closed: “The most interesting thing of the day is the decline in stock exchange rates and they are attractive especially the MEP that is achieved at 205 pesos”.
Bonds and country risk
In the fixed income segment, dollar sovereign bonds closed with most losses. The greatest decrease was for Bonar 2029 (-1.8%), while the greatest rise was registered for Bonar 2038 (+2%).
The country risk rose 0.1% to 1,773 basis pointsafter ending a streak of three consecutive raises on Tuesday.
“Bonds continue to fall, especially when measured in pesos and only a few green ones in their dollar version,” Santiago Llul analyzed the day.
Yesterday the weighted average price of Globals rose to US$32.88, but it is still far from recovering the levels reached last December.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
