Across the clouds: country risk has exceeded 2000 points | Chronic

The Buenos Aires Stock Exchange lost 4.74% and closed Tuesday at 24,622.47 points, a level similar to that recorded on September 21, 2017 when it stood at 24,595.45 units, while the country risk increased 9.9% to 2,001 basis points.

On Wall Street, shares of Argentinian listed companies via ADR ended the day with negative results, sometimes with losses of up to 14%, while the dollar gained 2.54% in the US dollar segment. detail. average of 58.66 pesos per unit.

"Another dark day for the local market, which continues due to political and financial uncertainties, is that investors misinterpreted the meeting of IMF officials with the Todos Front candidate, Alberto Fernández"outfit Eduardo Fernandez, stock market badyst.

In financial matters, the prevailing prudence, at least in the very short term, is linked to the outcome of Letes and Lecap's call for tenders that the Ministry of Finance will make tomorrow.

The "Noises" After the meeting between the Front of the Front candidate and the IMF delegation, according to badysts, they were due to the harsh conditions employed by the main opposition force to hold the multilateral agency responsible for the crisis – with the national government -. current

The situation worsened further with versions of the Front de Tout that IMF leaders reportedly slipped into the meeting that there was a power vacuum in the country and the need for an alleged advance to the election date.

Faced with this situation, the IMF issued a press release in which it denied "categorically that members of the delegation currently present in Argentina have suggested to advance the presidential elections because of their concerns about a hypothetical" power vacuum ".

Market badysts consulted agreed that the "surprised" the harshness of the communiqué issued by the main opposition force after the meeting with the IMF, in particular because of the need for the country to receive the disbursement agreed for next September.

Regarding the local stock market, the twenty newspapers that make up the first group ended up with red results.

The main victims are: Transportadora Gas del Norte (11.95%), Mirgor (11.11%), Transener (10.46%), Supervielle (9.27%), Central Puerto (8.42%) , Tenaris. (7.52%) and Edenor (7.18%).

In New York, the ADRs of Argentine companies also closed the wheel with a majority of negative figures, with the exception of the Ternium (+ 3%) and Tenaris (+ 1.5%) newspapers.

At the same time, the main setbacks were verified in the shares of Irsa (14%), Supervielle (9.5%), Central Puerto (9.4%), Macro (9.4%), Telecom (7.9%). and Grupo Galicia (7.7%).

In the fixed income sector, bonds also closed the wheel with heavy losses, both for cash issued in dollars and pesos.

In the first case, the largest declines were in the Bonar 2020 (9.7%), Bonar 2037 (9.2%), Argentina (6.7%) and Bonar 2024 (6%) categories. ) and Argentinian Bonus. 2017 (5.1%).

Of the securities issued in pesos, the most significant losses were in Bocon 2024 (9.9%), Discount (9.8%) and Parp (1.9%).

Finally, in the foreign exchange market, the price of the dollar today rose by 2.54% at the retail level, closing at $ 58.66 on average per unit, a day when demand was higher. active and on the rise. that the Central Bank was the main bidder of the market through seven auctions and traditional investments on behalf of the Treasury, for a total amount of $ 362 million.

In the wholesale sector, the increase was 1.83% to $ 56.30, with total spot market sales of $ 709 million, an increase of 78% report to the day before.

Historical Country Risk Statistics