Argentine stocks and bonds they had another bad performance this Friday, which was the last financial day of October.
The S&P Merval, measured in both pesos and dollars in cash with settlement (CCL), registered a 2.9% drop, although in the month accumulated an advance of 8% and 5.5%, respectively.
“With choices in between, the uncertainty grows given the possibility that a defeat of the ruling party implies a greater radicalization of the government, inconsistent with the demands that the IMF may ask for, “they commented from Portfolio Personal Inversiones (PPI).
“As a matter of color, Alejandro Werner – former official of the Fund – gave a conference in which was very hard on the country’s position. Werner was in favor of a ‘temporary’ arrangement that would serve as a bridge for these two years, but which no commitments to relevant macroeconomic changes“they added.
With the exception of the shares of Ternium and Loma Negra, which closed the day with respective increases of 2.9% and 0.4%, the rest of the main panel of the Buenos Aires Stock Exchange ended the day in decline, led by the decreases of Central Puerto (-6.5%), Transener (-5.9%) and Byma (-4.9%).
In the accumulated of the month, meanwhile, the greatest increase in the local market was registered Cablevisin, which posted a 26.9% advance, followed by the increases of Transener (24.3%) and Aluar (20.1%), while the only ones that fell in the month were YPF (-3.5%), Byma (-3.4%) and Banco Macro (-0.4%).
Likewise, the vast majority of Argentine stocks listed in New York closed the wheel with falls. While Ternium and Globant were the only ones to go up, with 3.8% and 1.6%, respectively, the greatest decreases occurred in Central Puerto (-8.2%), Banco Francs (-6.2%) and Banco Supervielle (-6%).
In the accumulated of the month for ADRs, the result was mixed. The greatest advances were those of Irsa (14.7%), Central Puerto (13.7%), while the most important setbacks were observed in Mercado Libre (-11.8%), YPF (-9.9%) and Banco Macro (-7.6%).
pass risk, up
On the other hand, Argentine debt continues to show poor performance in the financial market, in a context in which there is still no progress on an agreement between the Government and the International Monetary Fund (IMF) for the credit that the country has with the organization since 2018.
The negative path of Argentine bonds continues to affect pas risk. The JP Morgan index rose another six points and in the month I advanced 100 points, for which I closed in 1712 basis points, the highest level since the debt swap with private creditors, which took place just over a year ago.
All sections of the Argentine sovereign curve closed the day in red. The day’s casualties were between 0.4% and 0.8%, while in the accumulated of the month they fell between 5.5% and up to 7%, being those that expire in 2030 those that showed in worse performance.
WALL STREET recovered
In New York, American stocks recovered from their initial casualties and closed the last day of October with moderate earnings, since the rise that Microsoft registered helped offset the falls from Amazon and Apple, after the poor results in the last quarterly balance sheets.
Among the main benchmarks, the industrial average of the Dow Jones closed the wheel a 0.25% advance, up to 35,818 units, while the S&P 500 increased 0.18%, to 4,604 units, and the Nasdaq increased 0.32% for close the wheel in 15,496 units.