Although Wall Street recovers, the Merval fails to make foot and falls 2%

In New York, the main indexes managed to rebuild and return to the positive sign after the correction they saw on Monday. But the actions of Argentine companies move mostly in red, which They reach 5.5% in the case of the ADR of the Macro Bank. Energy also have punishment with Pampa Energía, Central Port and Gas Transporter del Sur, which lose 5.3%, 5.2% and 4.1% respectively.

Economist Gustavo Ber said: “Operators would seem even more inclined to extend the pause after the vertiginous accumulated climbs.” Despite this correction, in the City they are optimistic about the future of the Argentine Stock Exchange, which may be affected by a greater interest of investors in the Brazilian shares market, after the sharp accumulated fall. On Monday, the world of the world, the Brazilian index Bovespa rose 2%.

This was explained in Delphos: “From our perspective, the observed behavior responds mainly to a matter of flow. The high inverse correlation between the Merval and the EWZ suggests that a market can be functioning as the other’s hedge. In this sense, the flows Favorable to Brazil, the most undervalued market in the region, could have resulted in capital outputs from Argentina, the great 2024 star.

“Nevertheless, We believe that this dynamic should be reversed soon, since the foundations of the Argentine economy remain solid and are not affected by what happened. These foundations should act as a support, putting a floor to recent correction in the local market, “they warned.

Along these lines, in PPI they said: “After the impressive rally, it was expected that the index begins to have a greater sensitivity with respect to the movements from abroad.” And at the same time they added: “We still believe that Merval has a lot of value, but the selectivity begins to be increasingly important.”