The action of Tenaris sank by more than 10% and brought down the Merval

The Merval has been traded for almost the entire round, a trend that seems to have led the indicator to record five consecutive sessions, equivalent to more than 5% of profits. However, it ended on a fall of 0.68%.

Tenaris shares plunged 10%, a reaction that occurred immediately after know the treatment of Paolo Rocca, CEO of Techint. The Merval felt the news, but as Tenaris only accounts for 2.6% of the index, the move was not more serious.

In the city, there is already talk of "Bonadío effect", which has removed the improvements made by the local stock market up to now.

At the opening, the index had started with an advance of 0.3% and in a few minutes had exceeded 1%, reaching a maximum of 1.5%; from that moment, the bullish momentum gave way. Around 2 pm, the stock market managed to bounce back to the level of 1.3%.

"The disadvantage of all this is that the losses of Tenaris and Ternium eventually weighed on the entire local equity segment.In addition, after the closure of our market, Argentine ADRs continued to accentuate the bearish bias, "said Eduardo Fernández, an badyst at Rava.

In the fixed income sector, country risk reached its highest level since September and closed at 708 units. "The political uncertainty surrounding next year's presidential elections has led to a widening of the differential between 2019 and 2021 amortizing bonds in Argentina and expiration when a new period of government is in place, between 2019 and 2021, the gap reached 500 basic points, "the operators said.

The rise of Petrobras

Petrobras Brasil had the best performance, gaining 4.61%.

"In pesos, the Merval has risen during these days because of the exchange rate, even if it is worth 810 dollars in dollars, a figure that does not escape a parallel channel between 700 and 900 US dollars. since August, "commented Nery Persichini, investment manager of GMA Capital

The expert said that "Petrobras is recovering because it knew good data on the production of its 13 refineries after a fire in August". Persichini said that there was also a "positive sentiment towards the Brazilian market" and today. the real appreciates more than 1%, thus constituting the emerging currency presenting the best performances