Activity in financial markets, both locally and internationally, began the week on negative ground. The stocks leading the losses include Pampa Energía, Transener, Edenor, Banco BBVA, and Transportadora Gas del Sur. The S&P Merval index registers a decline of nearly 1% so far in March, both in pesos and dollars, while investors await news on the agreement between Argentina and the International Monetary Fund (IMF) following Javier Milei's recent trip to the United States.
In the international market, ADRs show a predominantly downward trend, with notable drops in Edenor, Banco BBVA, Pampa Energía, and Loma Negra. Bonds also experience a decrease, and the country risk exceeds 700 basis points again. Locally, the Buenos Aires stock exchange reports a drop of over 3%, standing at 2,188,924.41 basis points. The MEP dollar trades at $1,225 and the cash with settlement at $1,222.
In the early days of March, the Central Bank has acquired US$190 million, while gross reserves amount to US$28,087 million. The wholesale exchange rate is set at $1,066.50, which implies a gap of 14% compared to the parallel dollar. Recent statements by President Donald Trump about a possible recession in the U.S. economy and rising inflation have caused declines in markets globally.
In the fixed income segment, sovereign bonds in dollars are trading in negative territory, with drops of up to 1.9%. At Banco Nación, the value of the bill is $1,086, while the average in banks stands at $1,094.53. In this context, country risk is at 706 basis points, while the blue dollar opens at $1,195 for buying and $1,215 for selling.
Activity in financial markets is influenced by a complicated global environment due to rising tariff policies and growing fears of a recession in the United States this year. The S&P Merval index experiences a decline of 3.2%, while Argentine stocks trading on Wall Street also show predominantly negative performance. The only stocks showing positive performance are Ternium and Cresud. Internationally, concerns persist about a potential escalation in the trade war due to tariffs imposed by the United States and reactions from its trading partners.
