Tenaris sank nearly 10% and dragged the Merval, which made a positive run

The The Merval index of the Argentine stock market and markets finished in 30 921.11 points, also pushed by a brake on the loss of rates in pesos.

The main decreases were registered by Tenaris (-9.9%); Ternium (-3.9%); and Supervielle (-3.7%). The volume of shares traded fell sharply to $ 658 million.

On Wall Street, meanwhile, the actions of the steelmaker They also sank 9.8%.

"The accusation that Judge Claudio Bonadio badigned to businessman Paolo Rocca in the context of the notebooks case was undoubtedly the most prominent news of the day"explains the badyst Rava Eduardo Fernández.

See more: Notebooks: Paolo Rocca was sued

The concern of some operators was that the collapse of Tenaris paper led to a slowdown in the local equity segment. It's more, "After the closing of our market, Argentine ADR continued to accentuate the bearish bias"Fernández added.

With the exception of Tenaris, Superville gave 7%; Galicia, 5.7%; Ternium, 4.8%; and Banco Francés, 4.6%.

"After the closing of our market, Argentine ADR continued to accentuate the bearish bias" "After the closing of our market, Argentine ADR continued to accentuate the bearish bias"

General panel

On the other hand, in general panelamong the main stocks, the meat sector stands out (Introductora, Paty and Inversora Oath), which climbed to nearly 6% after the announcement of the signing by Argentina of an agreement with the United States that will allow the commercial exchange of fresh beef between the two countries for the first time in almost two decades

Fixed income and country risk

In the fixed income sector, the main dollar obligations (against pesos) recorded widespread losses, in line with the retirement of US currency on the wholesale market changes.

The most pronounced falls were recorded by 100-year bond (-2.4%); and the Reduction according to Argentine law (-1.7%).

After five rising wheels, the dollar depreciated due to the absorption of the pesos by the BCRA via Leliq for a total of 140,000 million dollars (the rate did not fall for the first time in 16 days)but also because of the fall of the currency in the region.

Another of the notes of the day was given by country risk, measured by the JP.Morgan bank, which it increased eight units to 703 basis points, its highest level since early September.

Thus, some titles already present very high yields of 11% per year, which improves concerns regarding the 2020 financial program.

The political uncertainty surrounding the presidential elections next year has led to a widening of the differential between repayable Argentine bonds in 2019 and the expiration of other bonds in the new bond period. government. According to the operators, between 2019 and 2021, the spread has reached 500 basis points.

"The differential between the two bonds (2019 and 2021) expresses the political risk represented by the elections of 2019: a possible change of course concerning the treatment of the debt and / or the fiscal consolidation trajectory", José Echagüe, financial strategist at Consultatio Investments.

The biggest political protagonism of the former president Cristina de Kirchner has entered the radar of financiers. The current senator inaugurated this month a vast forum in Latin America in Buenos Aires, where she denounced neoliberalism and criticized the economic management of Macri.