ADRs fall up to 5% on Wall Street and the country risk exceeds 1,400 basis points

ADRs fall up to 5% on Wall Street and the country risk exceeds 1,400 basis points
ADRs fall up to 5% on Wall Street and the country risk exceeds 1,400 basis points

The Buenos Aires stock market rises slightly this Thursday amidst investment prudence. The exchange rate instability affects the Argentine assets awaiting corporate balance sheets, mainly banking ones, due to their impact on business.

He S&P Merval It lost 0.89% to 1,547,488 units, one day after setting its intraday record in pesos at 1,584,054.47 points. Operators said that the square moved in tune with the Argentine ADRs listed in New York which fell up to 5% led by banking stocks such as Grupo Financiero Galicia (-4.8%), Banco Macro (-4.5%), BBVA (-4.5%) and Banco Supervielle (-3.7%) . Likewise, Globant SA (0.6%), Tenaris (0.6%) and Corporación América (0.2%) rose.

The political tensions over the Bases Law and the impact of the reduction in rates, which the Government downplayed, are some of the reasons that the market is analyzing.

Bonds and country risk

In the fixed income segment, they lost up to 4.3% led by Global 2035, Global 2035 (-3.4%) and Global 2030 (-3.2%). Thus, the risk country measured by JPMorgan, it rises 2.37% and exceeds 1,400 basis points.

 
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