This Tuesday just the positive streak from Buenos Aires Stock Exchange, which had been on the rise for nine consecutive days, as its leading stocks fell a 2,6% and the indicator Merval it dropped to 66,390.28 points. Anyway, there was good news on the day and that is that the risk country, piercing the 1500 point barrier.
As reported by the agency NA, the most important falls in the Buenos Aires stock market were for Supervielle Group, which lost 5.6%, Cresud, 4.8%, and Galicia, 4.4%. At the same time, stocks such as Edenor, which grew by 2.2% during the day, Transener, whose value increased by 2%, and Transportadora de Gas del Norte, by 1.8%, ended up on the rise.
The bonds issued in dollars, unlike the stock market, registered a positive day in which they operated with gains, so that the country risk fell 1% and reached 1,494 points. As for Argentine ADRs on Wall Street, the majority had losses. The largest was Galicia, which fell 4.3%, while Edenor was one of the exceptions, growing 6.3%.
The financial sector is waiting to receive news about the Government’s negotiations with the International Monetary Fund and with the Paris Club. MSCI, the world’s largest market index provider, was also expected to issue a rating on Argentina, but this was postponed to June 24.
The MSCI must decide if the Argentine financial market continues in its current category, which is that of Emerging Markets, or if it happens to be considered in the Frontier category, which, although it is a downgrade, could become good news because it would imply that more investments and currencies enter our country.