Country risk slows and Argentine stocks recover – 06/05/2019



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With the dollar up about $ 46, Argentine equities show mixed results country risk slows down after starting the day with a 2% increase. In the middle of the afternoon, this indicator is returned to 924 basis points, down 0.2% from the end of last week.

The zigzagging of country risk – the indicator that measures the surtax that Argentina pays to borrow – reflects investors' distrust of local newspapers, which, in the face of uncertainty, prefer to do business more mature markets.

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Monday to Friday afternoon.

Following the announcement of the increase of Donald Trump as of Friday 10 to 25% tariffs for the import of products from China, global markets have shown negative results so far this day. The Dow Jones index loses 0.8% and the Nasdaq, 1%.

Pessimism came to SARD, the papers of Argentine companies listed in New York, which started with losses of up to 4% but recovering ground. Banks began with heavy losses, but at noon they reversed: Supervielle, French and Macro rose between 0.5% and 0.9%. Of the 19 Argentine companies that make up this panel, 16 torn in red. But the market was improving expectations and mid-term only 6 are clbadified as weak.

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At the local level, the Merval started with a drop of 1.4% but was going down with the minute race. At noon, he was already getting up, with an increase of 1.9% in the day and 11% in the month. 90% of the actions on the panel increase.

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