The ADRs of Argentine companies listed on Wall Street this Friday extended the red of the previous session, in which they sank up to 8.4%with banks and energy companies leading the declines.
The papers of Argentine companies went deeper into the red this Friday and once again lost the vast majority in the last round of the New York market.
Argentine ADRs fell on Wall Street
Although their falls moderated at the close of trading, the papers of energy companies and banks led the losses on Wall Street.
Central Puerto (-1.8%); Galicia Financial Group (-2.8%); IRSA (-3.2%); Transportadora de Gas del Sur (-1.9%), Edenor (-2.3%) and BBVA (-2.4%), They were some of those who fell the most.
While Pampa Energy reversed on the end of the wheel and closed with a rise of 0.6%. The papers of Mercado Libre (1%) and Globant (2.6%).
The bonuses They also extend the losses of the previous session, in which they cut more than one -0.5% in their dollar quotes among the main references with foreign legislation.
The ADRs and bonuses in dollars during the local holiday accompany the bad tone that the New York square presents.
While, The country risk rises again above 1,400 units and marks 1,420 points.
Argentine ADRs continue in free fall on Wall Street. Loma Negra, the only one that registered increases.
What happened on the last business day of the week?
Last Wednesday, The Buenos Aires stock market advanced 1.2%, driven by the roles of the energy and banking sectors, with investors who are expectant of the political negotiations carried out by the ruling party to obtain the half-sanction of the Bases Law in the Chamber of Deputies. In this way, the index stood at $1,220. In the external market, the shares of Argentine companies that are traded abroad did not mark operations on the boards, due to the Juneteenth National Independence Day holiday in the United States, which commemorates the end of slavery in that country.
In the fixed income segment, with little traded volume, sovereign bonds in dollars under New York legislation closed with falls along the curve of up to 1%, led by the Global 30, while securities in pesos with CER adjustment marked gains of up to 0.8%, led by the TX26.
At the local level, in a television interview, the presidentand Javier MileHe praised the Minister of Economy, Luis Caputo, stating that he is one of the best ministers in Argentine history and said that “no one is going to violate the achievements” of the head of the Treasury Palace. Milei’s statements come in a context in which part of the press suggests that Caputo could be replaced by Federico Sturzenegger.
