ARGENTINE SHARES in New York climbed up to 10% and the country risk fell

Amid the holiday in the local market, the shares of Argentine companies listed on Wall Street had a strong recovery

The Argentine shares listed on Wall Street showed a marked upward trend on Tuesday and showed increases of more than 10%, while Country Risk fell 4.1% on a day without activity in the local market.

The ADRs showed an upward trend since the start of the wheel and, at noon, they gained 16%.

With the passing of the hours, they moderated the increase, but maintained good results, which reached 10.31% for Transportadora Gas del Sur.

BBVA Francés (9.62%), Cresud (9.43%) and Pampa Energía (9.28%) also had significant gains.

Edenor (6.93%), Banco Macro (5.07%), Loma Negra (5.03%) and Galicia (4.75%) were in a second auction squad.

For its part, the Country Risk measured by the JP Morgan yielded for the second consecutive day and fell 4.1% to 3,884 basis points.

Amid the coronavirus crisis, which also impacted world markets, the leading shares of the Buenos Aires Stock Exchange ended March with a loss of 30.3%.

A catastrophic month for global stock markets

The main stock exchanges in the world left in just 45 days losses that touched 50% in the cases of Italy and Spain, 40% in the rest of Europe and 30% on Wall Street, as a consequence of the Covid-19 pandemic that affected world economic activity and the oil price war.

The Dow Jones index lost 13.7% this month and almost 34% since last February 19, almost 34%, according to data from the Bloomberg agency published at the end of the market operations of the third month of the year.

Until that date, the markets had a normal behavior with small oscillations, but from there a disagreement broke out between the oil-producing countries nucleated in OPEC with other producers led by Russia, which led to a collapse in the price of crude oil and the value of shares linked to hydrocarbons., which contributed to the debacle in the stock markets.

As coronavirus infections and deaths and confinement measures progressed, fear grew in the world, until on March 11, with the declaration of a pandemic by the World Health Organization, crack-down It became widespread, reaching the fateful Monday, March 16 with the biggest daily drop in stock markets since the 1929 crisis.

The instability of the markets was very well reflected from the last two weeks of February to date, through the VIX Index, prepared by the Chicago Market and which measures volatility in the stock markets.

Thus, while that indicator was at 14.38 points on February 19, it reached 82.68 points on March 16, which is equivalent to an increase of 575%, to close today at 53.54 points, showing a 372% recovery since the start of the crisis and a 55% drop since Monday, March 16.

The expanded S&P 500 indicator fell 12.5% ​​in March and 31% from its peak on February 19 last.

Meanwhile, tech Nasdaq dropped 10% in March and 27.5%, and these results show the worst semi-annual drop in a quarter since the October 1987 crisis.

Meanwhile, in Europe, despite the fact that they ended on positive ground today, the shares left significant losses from their highs on February 19.

The two countries most affected by the Coronavirus, Spain and Italy, showed losses in their equity values ​​that touched 50%.

Thus, the Ibex 35 of Madrid parquet lost more than 22% in March and registered a loss of 48.6% in 45 days, while the Milan stock market left 22.5% of losses in March and 49.4% since its peak in 2020.

The leading Euro Stoxx 50 index showed a red of 16.3% in the month and 39% in the same period. In London, something similar happened, in March they lost 13.8% and 31% in the reference period.

In Paris, the stock market fell 17.2% in March and 39% from the 19 of last month, while in Frankfurt, the Dax index collapsed 16.4% in March and 39% since its 2020 cap.

In commodities, oil plunged from its annual peak on January 6 when the price of the WTI variety had reached $ 63.27. Since then, the value of that hydrocarbon fell 68% of that cap and closed today at $ 20.11.

Something similar happened with the Brent rate, which, after reaching a ceiling of $ 68.91, fell 67% to $ 22.74.

Operators and investors hope that with the fiscal stimulus packages dispatched from Washington and Brussels and with the help of the Federal Reserve and the European Central Bank, the markets can recover part of the losses from the second quarter of this year.

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