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Stock Market Slump Continues for Argentine Companies

The S&P Merval index fell 5.56% today, adding the fifth consecutive day with negative numbers, in a wheel in which the shares of Argentine companies listed in New York also marked setbacks of up to 5.4%.

In the Buenos Aires square, the main losses of the day of the papers that make up the leading panel were led by Ternium (-8.48%); Cresud (-7.86%); BYMA (-7.66%); Banco Macro (-6.70%); and Loma Negra (-6.40%).

Along the same lines, on Wall Street the shares of Argentine companies ended the session with the majority of results in the red, among which Irsa (-5.4%) stood out; Edenor (-5.4%); Central Port (-4.9%); Banco Macro (-4.9%); and Telecom Argentina (-4.6%).

Only Globant (2.1%) closed with positive numbers; America Corporation (1.5%); and Mercado Libre (1%).

In the fixed income segment, dollar bonds ended with falls of 55 cents on average, while CER-adjusted peso titles traded with falls of 0.9% on average. Within this framework, the country risk advanced 2.15%, to settle at 2,136 basis points.

Regarding the exchange rate, the retail dollar closed today at an average of $367, without variations compared to the day before.

For its part, the so-called “blue” or informal dollar fell five pesos, at $725 per unit. Meanwhile, in the stock segment, the cash dollar with settlement (CCL) fell 1.1%, to $761.48; while the MEP ended unchanged, at $672.37.

In the wholesale market, the US currency ended unchanged from the previous close, at an average of $350.

Meanwhile, the Solidarity Dollar and the Card Dollar -which have a 30% COUNTRY tax rate and 45% profit perception- stood at $642.25, while for purchases over $300 -which has an additional tax of 5%-, traded at $660.60.

2023-09-05 22:01:00
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