The Buenos Aires stock market, ADRs and bonds in dollars extend the losses resulting from the crisis facing the international financial system.
By Marcos Phillip
15/03/2023 – 11,23hs
In another very tough new wheel for world markets, the Merval trades with a 3% drop and stands at 231,703.98 points, product of the aversion to risk produced by the events with Credit Suisse, one of the most important European banks in the world.
In the external plaza, the ADRs of Argentine companies that operate abroad are trading in negative territory of up to 6.6%, where the poor performance of Tenaris stands out.
In the fixed income segment, sovereign bonds in dollars under foreign legislation registered falls along the entire curve of up to 4.3%, led by the Global 29, while titles in pesos with CER adjustment mark ups and downs.
What happens in world markets
Wall Street It was operating at a loss, affected by the collapse in the shares of the European bank Credit Suisse, after the president of the Saudi National Bank, Ammar al Khudairy, the main shareholder, announced that there will be no further injections of capital to sustain the entity.
The financial strength of Swiss credit it was called into question again and dragged down all the papers in the banking sector from the main reference stock markets.
For his part, Swiss bank president Axel Lehmann said state aid is “not on the table” for Credit Suisse, saying it would not be accurate to compare its current problems with the recent collapse of Silicon Valley Bank, “especially since banks are regulated differently.”
The Buenos Aires stock market, ADRs and bonds in dollars extend the losses resulting from the crisis facing the international financial system
Los Credit Default Swaps (CDS)ie the cost of insuring the Swiss bank’s short-term bonds against default, reflect the underlying fear, and are already approaching above 830, up from 430 yesterday.
Wall Street
The main Wall Street indices operate with negative results. Thus, the S&P 500 falls 0.29%; the industrial Dow Jones loses 0.13%; and the technological Nasdaq yielded 0.94%.
Merval
The Merval registered a decrease of 3%. Thus, the falls of the leading shares are recorded by YPF (-4.10%); Silver Commercial Society (-4%); and Transportadora de Gas del Sur (-3.28%).
ADRs
The papers of Argentine firms on the NYSE are traded with the majority of results in the red. Thus, the losses are recorded by Tenaris (-6.6%); Edenor (-6.5%); and YPF (-6.1%).
bonds
Sovereign bonds in dollars under foreign legislation register falls throughout the entire curve of up to 4.3%, led by the Global 29, while titles in pesos with CER adjustment mark ups and downs.
Risk country
The country risk is located around 2,350 basis points.
