ADR down almost 4%, while the S&P Merval chains five rises in a row

The main falls are registered by the shares of Transportadora de Gas del Norte (3.8%), YPF (2.15%) and Loma Negra (1.9%) . While the most important increases are recorded by Transportadora de Gas del Norte (1.6%), Pampa Energía (1.4%) and Aluar (1.3%)

On Wall Street, the main increases are recorded by the shares of Grupo Financiero Banco Galicia (3.9%), YPF and Mercado Libre (3.6%) and Central Puerto (3.3%).

Investors seek safeguard in assets with low Argentine risk given the uncertainty about the domestic economy, conditioned by a three-year recession, and the impact of the coronavirus.

Against the recent bullish rally, the settlement and compensation agent Neix stated that "the S&P Merval encounters technical resistance above the 50-day moving average, at around 46,200 points."

On Tuesday, an IMF delegation arrived in the country to talk with the Government about to the refinancing of a loan for about 44,000 million dollars granted to the macrista administration in 2018.

Bolsas y Mercados de Argentina (BYMA) announced that it extended by 30 days the term for the repurchase of shares with the idea of ​​defending the value of their securities in the stock market.

Bonds and country risk

Sovereign bonds fell on Wednesday an average of 0.8% due to the constant departure of investors caused by the uncertainty generated by the future of the country's economy.

The benchmark 'Bonar 30' lost 0.8% and the 'Bonar 41' lost 1.3%.

Argentine bonds "are yielding between 14% and 15%, but it is a time when investors are not desperate to buy local risk" said the brokerage Portfolio Personal Inversiones.

For its part,

the country risk prepared by the JP Morgan bank lost eight units, to 1,366 basis points .

A mission from the International Monetary Fund (IMF) arrived in Argentina on Tuesday to learn about the government's economic plans after the country requested a new program with the agency .

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