Argentine stocks listed in New York, known as ADRs, They opened the month with increases close to 3%in a context of downturn in US markets.
AS, ADRs continue the hot streak they have shown throughout the year, this time driven by the positive market reaction following the announcement of New York federal judge Loretta Preska’s decision. The magistrate This Monday he ruled in favor of Argentina in the GDP-linked coupon trial faced with the claim of a group of US investment funds in a lawsuit for 1.4 billion dollars.
Preska denied the appellants’ claimwhich had obtained a favorable ruling in the British courts.
The news provides at least temporary relief to Argentina, which is facing adverse rulings in international courts such as the one related to the YPF nationalization case, which would involve the payment of 16 billion dollars.
In the midst of the holidays in Argentina, the Argentine newspapers on Wall Street go up. At the same time, this allows it rural irrigation fell by 10 units, to 1,439 points.
Among Argentine stocks, The most marked increase is that of Despegar, with 2.8%, followed by Central Puerto with 2% and Edenor with 1.9%. Telecom stands out with 1.9%, IRSA with 1.2% and Pampa Energía with 1.1%.
This year, so far, the best performance is that of Banco Macro with an increase of 69%, followed by BBVA with 55.6% and Galizia with 49.2%.
This Monday on Wall Street, the Dow Jones index falls by 0.6% and the S&P 500 lost 0.2%, while the tech Nasdaq rose 0.65%.
Wall Street begins the second quarter of the year today after closing the first quarter at historic highs for the S&P 500 index, which it gained 10.2%, its best start to the year since 2016.
While the Dow Jones, up 5.6%, achieved its best performance since 2021 in the first quarter, the Nasdaq instead recorded an increase of 9.1% in the first three months of the year.
Even analysts I am waiting for the direction of interest rates, set by the Federal Reserve (Fed), according to the EFE agency.
By sectors, losses prevailedled by public services (-0.91%) and the healthcare sector (-0.65%), while communications (1.29%), technology (0.83%) and the non-essential goods sector (0 ,24%).
Between 30 Dow Jones stocksIntel (2.04%) and Microsoft (1.28%) led the gains, while losers at this time included Amgen (-1.1%) and Nike (-1.01%).
Source: Clarin
