in that respect ADRs rose up to 5.1%, while bonds posted most of the decline (up to -1.8%) and country risks rose for the sixth consecutive session and crossed the 2,400 mark.
On Wall Street, Argentinian shares fell thanks to Central Puerto (-5.1%), followed by YPF (-4.7%) and Cressud (-3.7%). Meanwhile, the shares of Corp. America (+2.4%) registered an increase; Globant (+1.3%) and Ternium (+0.4%).
At the local level, rising inflation is hammering the economy, which is expected to exceed 100% this year, and exchange rate pressures, maintaining a veil of doubts about the economy’s future.
S&P Merval After falling 1.55% a day before and after posting an intraday all-time high of 150,971.41 points on Monday, it fell 0.67% to 146,941.15.
The biggest losers were Transportadora de Gas del Norte (-3.2%); Central Puerto (-3.1%) and YPF (-2.8%). The growth was led by Ternium Papers (+2.3%); Byma (+0.7%) and Alur (+0.6%).
The Marvel”500 points (measured in dollars), stands 30 points from its highest level in the year, but still 77 (points) from its value at the end of 2021, reducing accumulated gains (in dollars) holds on. 18.93% so far this yearsaid Portfolio Personal Investments.
“Let’s remember that behind just 42 wheels, S&P Merval touched its 2022 low of 334. The return of the main Argentine stocks has been remarkable,” he said.
Bond and Country Risk
In the fixed-income segment, sovereign bonds operate in dollar denominated bonds with the majority approaching 2%. He was led by Bonner 2038 (-2%), followed by Bonner 2035 (-1.8%) and Bonner 2029 (-1.1%).
While amidst some growth, Bonner 2031 and Global 2046 (+0.8%) and Global 2035 (+0.2%) stood out, respectively.
For their part, sovereign dollar-linked bonds showed continued demand and rose 0.5% on average, with volumes well on both ends of the curve, with TV24 standing out, up 1% according to SBS Group.
Meanwhile, CER-adjusted loans were in demand and rose an average of 0.6% along the curve, with long standing bonkers rising 1.2%.
In this context, country risk as measured by JP Morgan It rose 0.2% to 2,398 basis points, the sixth increase in seven consecutive days. During the day, he got over 2,400 marks.