Within the scope of the exchange peace Due to the “washing effect”, Argentine stocks listed on Wall Street fell by up to 5% and the S&P Merval fell by 2.6%. On the other hand, the dollar bonds They ended with market increases that reflect local political tensions and the international conflict in the Middle East, which affects emerging markets.
The initial index, S&P Mervalfell 0.7% after rising 1.1% on Tuesday. In the panel, the papers worked with the majority of losses led by Pampa Energía (-2.6%), Transportadora Gas del Sur (-2.2%), Transportadora Gas del Norte (-1.7%) and IRSA (- 1.3%). Meanwhile, the increases in Ternium Argentina (1.9%), Comercial del Plata (1.5%) and Aluar (1.5%) stood out.
In New York, Argentine stocks lost up to 4.7% led by Mercado Libre, which took a hit in the last few hours because JPMorgan changed its position on this company, qualifying it as “Neutral”, maintaining a Price Target of US$ s2, 400. After that Mercado Libre, Pampa Energía (-2%), Transportadora Gas del Norte (-1.8%) and Grupo Financiero Galicia (-1.4%) are declining. Meanwhile, Despegar (4.5%), Central Porto (0.5%) and YPF (0.3%) rose.
A new one is before the Government this Wednesday March Federal University in rejecting the veto of the University Funding law and in the demand for teaching and non-teaching salaries.
On the international stage, Iran He said early Wednesday that his missile attack on Israel had ended to prevent a new provocation, although Israel and the United States promised retaliation.
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Dollar bonds closed with the majority of gains for the third day
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Dollar bonds and country risk
Los dollar bonds, for their They closed with increases of up to 2.2% led by Global 2029 (2.2%), Bonar 2035 (1.4%) and Global 2035 (1.1%). In this context, country risk fell by 0.70% to 1,279 basis points.
Gustavo Gardey, Co-Founder of financial consultancy BRI highlighted An area that stands out in this round is that the country risk continues to decrease. “Y“It is three wheels that the country’s risk is operating below 1,300 points,” he declared.
He also emphasized that the good data on the flow generated by the laundering, added to REPO and guarantees on the payment of 2025 obligations, future placements of bills in dollars like “letes” “drivers to think that the sovereign debt is any .further it only rises through flow,” explained Gardey.
“The bond market is strengthening day by day, there are many prospects now and again The Government continues with the zero emissions policy and with an increase in both fiscal and financial surplusesany kind of risk in the next payments is almost zero, as well as many proposals from outside banks,” explained Leonardo Svirsky, financial analyst.
For their part, PPI analyzed that “Argentina’s sovereign debt has avoided the risk” and he pointed out that, given the increase in the conflict in the Middle East, world markets turned towards conservative assets, but that Global bonds were able to overcome the bad waves.