After the new measures of the Government announced last Sunday, the Central Bank abandoned the auctions endorsed by the IMF and intervenes with direct sales to contain the dollar, which after an initial rise cut that rise and relocated around 58 pesos, same as yesterday.
While in the Single and Foreign Exchange Market (MULC), the currency falls 10 cents to $ 55.90.
On Monday, in the debut of the exchange control the dollar deflated and ended at $ 58 (average of the BCRA) without the Central Bank selling reserves. But yesterday's session was characterized by technical problems to implement the new measures and the low volume for the Wall Street holiday.
The holiday in the United States conditioned the local volumes. Today will be the true litmus test for the measures announced by the Government.
Strong fall in the bag
The Buenos Aires stock exchange traded down on Tuesday due to a rearrangement of prices due to fluctuations that occurred as a result of the new exchange rate measures. The Merval index fell 13%, to 22,701 units, minutes before 14, after a sharp increase of 6.41% on Monday and a collapse of 41.4% in August.
Traders explained that a bad day for Wall Street – with average lows of 1% for Dow Jones, Nasdaq and S&P 500 past noon – also played against Argentine stock markets.
Banks and energy
The most outstanding stock falls corresponded to the energy companies heading. Among them, YPF, with a strong decline that reached -17%; Pampa, with -16.78%, and Edenor, with -17.11%. Banks also fall: Macro, -17.76%; and Galicia, -17.66%.
Source link
https://www.lavoz.com.ar/politica/mercados-tranquilidad-en-dolar-terremoto-en-bolsa
