At the end of the week, amid the upward trend of the dollar ($ 42.80), the Buenos Aires Stock Exchange collapsed 3.7% yesterday: the leading Merval index of Argentine Stock Exchanges (BYMA) sank to 32,908 units with a turnover of $ 880 million.
In addition, among the local financial turbulences, the country risk increased 5.2% (38 units) to reach 768 points. It arrived, thus to one of the highest levels of the year.
It happens that after the news that was known on Thursday, about the increase in unemployment and the fall of the economy of 2.5% in 2018, the local financial market reacted quite negatively. Among the stocks, the items that registered the biggest retractions were banking and energy.
The stocks of the companies with the largest falls were: Banco Macro (-6.6%), Pampa Energía (-4%), Grupo Galicia (-6.2%), Banco Francés (-5.4%), Gas Cuyana (-4, 89%) and Edenor (-4.23%).
According to an analysis by Consultatio, “the external context went through all the possible states this week, closing in the worst way, in this framework, the local assets failed to react to the good news and suffered from the bad news,” he said in a report. .
The analyst Eduardo Fernandez, of the RAVA stock exchange, commented on the day yesterday: “the markets of the world underwent a hard reverse, when transcending negative data for the march of the economy of the USA What worried the investors it was, not only a weak figure of the manufacturing activity in the USA, but also, bad data on the German economy, which presages a deceleration of the global growth “, explained in the website of the firm.
“As a result, the main stock market indexes of Wall Street collapsed on average by 2.%, our local market could not stand, and was coupled with the international bad mood,” said the analyst. Meanwhile, the Brazilian Stock Exchange also plummeted 6%.
On the other hand, in this hectic context for the world’s stock markets, the retail dollar -in the local market- quoted at $ 42.80 for sale, in banks and exchange houses in the City of Buenos Aires. While the price of Banco Nación, which is usually the lowest in the market, was $ 42.75.
In turn, the wholesale dollar, with which banks and large companies operate, ended with a price of $ 41.83, 1.8% more than the previous day.