The shares of Argentine companies listed on Wall Street traded today with losses of up to 11.3%, in a day in which the New York Stock Exchange ended with a negative trend. While the closing of the Counted Liquidation dollar (CCL) in April, was 31.9%.
So, the Industrials’ Dow Jones lost 2.55%, the selective S&P 500 also fell 2.81%, while tech Nasdaq lost 3.20%.
Wall street operate in red throughout the session, in a wheel infected by the setbacks of the main technological companies such as Apple or Amazon and by the fear that the United States and China will escalate the trade war again.
In this regard, the White House economic adviser, Larry Kudlow, assured that the Chinese will answer for what happened with the coronavirus, according to a cable from the EFE agency.
Without activity in the Argentine market due to the Labor Day holiday, the roles of Argentine companies operating on Wall Street marked strong setbacks led by Irsa (-11.3%); Pampa Energa (-9.1%); Central Puerto (-8.6%); American Corporation (-8.6%); and Grupo Financiero Galicia (-6.9%).
In the public debt market, dollar sovereign bonds showed a negative trend throughout the session. In this way, the country risk increased 1.90% to 3,565 basic points.
This Friday, there were no operations for the holiday, so yesterday’s dollar figures for sale to the public closed at $ 69.16 average, with a rise of 10 cents compared to Wednesday, while in April it had an advance of $ 2.58, which represents an increase of 3.87%.
Meanwhile, the dollar settled with liquidation (CCL) sold for $ 114.65 (+ 3.6%), which represented an increase of 31.9% in April; while the MEP dollar traded at $ 111.59 (+ 2.5%) and in April it accumulated an advance of 30.7%.
In the wholesale sector, the US currency gained nine cents and ended at $ 66.84, and in the monthly balance rose $ 2.37 (+ 3.68%).
Lastly, the dollar with the 30% surcharge – PAS tax – ended at $ 89.90.
Consulted by the balance of the month, Daniela Wechselblatt, CEO of DW Global Investments, said that “in April we got to see the MEP dollar at almost $ 120 and the official one at $ 64-69, implying an 80% gap”
“This led the regulatory body to impose limits on the composition of mutual funds to decompress the demand for MEP dollars and with liquidation, managing to put a brake on this rise, said the specialist.
What we do understand is that while we are in this tough process of renegotiating debt with foreign funds, we will not have access to international credit and this will put more pressure on the dollar. The best news we could receive is that we are close to an agreement, Wechselblatt concluded.
In turn, Gustavo Quintana, analyst at PR Corredores de Cambio, indicated that the monetary entity was once again active in the cash segment and in the futures market, with sales that attempted to supply the demand for foreign exchange.