In this frame, the leading S&P Merval index of Argentine Stock Exchanges and Markets (BYMA) grew by 2.5%, to 85,763 points, following improving 1.7% the day before and collapsing 4.9% on Monday.
Contrary to his peers, Mercado Libre shares plummeted 12.3%dragged by the bad session of technology firms globally.
“There are opportunity purchases to hedge once morest inflation, but doubts in the market are growing, not only because of us but because of the international context,” explained a financial agent from the foreign bank.
After starting the wheel down, and turning around later, the New York stock market registered falls once more in its main indices. The technological Nasdaq was the one that suffered the most, with a loss of 3.2%. Likewise, the S&P 500 rounded off this wheel its second worst start to the year in its history, behind the 1932 mark.
This Wednesday the inflation data in the US was published, which marked 8.3% year-on-year, lower than the March figure but higher than the 8.1% forecast by analysts.
Energy prices increased 30.3% and food prices 9.4%, becoming the largest increase since April 1981 in the North American country.
At the local level, the market’s eyes are set on how the strong tensions within the ruling party will be resolved due to differences in views on economic policy.
“Political tensions and economic uncertainty are not helping to sustainably whet investor appetite, especially as the road to the next election is long,” one economist said.
After the closing of the market, the state oil company YPF will present its balance sheet for the first quarter of 2022, a fact followed by the operators since it is one of the most important companies in the medium.
In the fixed income segment, the main bonds denominated in dollars registered most of the increases, in a scenario of attractive prices although not without high risks. The Bonar AL29 exhibited an increase of 1.9%.
But still, the Argentine country risk prepared by the JP Morgan bank fell 1.2% to 1,835 basis pointsfollowing four consecutive raises.
For its part, sovereign debt in pesos indexed for inflation (CER) added a new decline, following the strong gains recorded in recent months.
The consultants and financial entities that participated in the latest Survey of Market Expectations (REM) of the Central Bank estimated an inflation of 5.5% for April, which might induce new pressures such as for a new rate hike.
