During February, Argentine markets experienced a difficult month, with a marked decline in stocks and bonds. The S&P Merval lost nearly 17% in dollars, and the country risk increased by more than 25%. This month represented the worst period in a year and a half for local assets, comparable to the prelude to the general presidential elections in September 2023.
The uncertainty surrounding the agreement with the IMF and its impact, along with the introduction of the $LIBRA token, contributed to the negative trend in local markets. Internationally, Donald Trump's ascension also influenced global markets due to tariff threats on imports.
Financial analysts are eager for updates on negotiations with the IMF for a new agreement. Despite public statements from the parties involved, more clarity is requested in this regard and on possible solutions.
This Friday, the S&P Merval showed a slight rebound of 0.6%, closing at 2,205,800.50 basic points. On the other hand, fluctuations were observed in leading stocks, with companies like Pampa Energía, BBVA, and Metrogas recording increases, while others like Transener, Loma Negra, and BYMA suffered declines.
Regarding ADRs, Grupo Supervielle, Pampa Energía, and BBVA were the main winners of the day. However, throughout February, Argentine stocks on Wall Street decreased by up to 30.3%, with companies like Globant, Central Puerto, and Supervielle among the most affected.
In the dollar bond market, another unfavorable day was noted, where bonds such as Bonar 2041 and Global 2041 experienced significant drops. In this month, sovereign debt in dollars fell by up to 8%, and the country risk increased by 25.6%, reaching its highest point since mid-November of the previous year.
