Saturday , May 8 2021

On local holidays, Argentine shares listed on Wall Street fell to 5.8 percent



On holidays without the activity of local stocks, Argentine shares traded in New York -ADRs, or American Depositary Receipts-fell 5.8% amidst the global market where major European stock exchanges began the week to decline, influenced by Wall Street's pullback, the fall of technology companies and the context of political uncertainty associated with Brexit.

Wall Street was influenced by the Nasdaq, an index of technology companies, which suffered commercial tensions between the US and China and the problems of large technology companies. Thus, Nasdaq collapsed 3.03% (7,028.48); The Dow Jones industrial average lost 1.56% (25,017.44 points) and the S & P 500 fell 1.66% (2,690.73).

The most affected local roles are roles Loma Negra, which closed 5.8% and although recovering in the past month (+ 23.2%) accumulated an annual loss of 51.8 percent. Local technology companies also suffered, falling in the roles of Despegar, -5%, and Mercado Libre, -2.7%.

The only "green" Argentina is Banco Supervielle (+ 2.5%), Ternium (0.2%) and TGS (0.3%).

In addition to the collapse of the stock market in the US, people in major places in the world were also affected. London produces 0.19% and stands at 7,000.89 points; Paris lost 0.79% and stood at 4,985.45 points; Frankfurt fell 0.85% to 11,244.54 points; Milan lost 0.29% and stood at 18,823 points; and Madrid fell 0.56%, closing at 9,006.30 points.

The sharp decline in technology company prices occurred after the weekend The Asia Pacific Summit shows that trade conflicts between the US and China are still alive. "This is especially devastating to technological values," said Peter Cardillo of Spartan Capital.

Apple, one of the stars of the Nasdaq, and lost 3.96% after a note from The Wall Street Journal showing that the group reduced production orders for its new iPhone. The role of the company established Steve Jobs, Fell more than 20% of its historical value October 3.

Attention for Apple affects semiconductor producers. Nvidia lost 12% after falling 28.7% on Friday. Thus, "fever" spread across all major technologies: Netflix -5.45%, Alphabet (Google) -3.82%, Amazon -5.09% and Facebook -5.72%. The social network is at the lowest price since February 2017.

On the debt market, the yield on the 10-year Treasury bond fell to 3.054% against 3.063% on Friday and the 30-year bond retreated to 3.313%, against 3.316% from the last session.

In addition to the collapse of the stock market in the US, people in major places in the world were also affected. London produces 0.19% and stands at 7,000.89 points; Paris lost 0.79% and stood at 4,985.45 points; Frankfurt fell 0.85% to 11,244.54 points; Milan lost 0.29% and stood at 18,823 points; and Madrid fell 0.56%, closing at 9,006.30 points.

With information from AFP-NA and Reuters


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