Argentine stocks on Wall Street fell more than 3% on a day marked by doubts on the markets

Despite the local holiday, Wall Street-listed Argentine stocks continue to trade and affect investor sentiment regarding the country’s assets. A Monday marked by the reds in the main indicators of the New York stock market, Argentine ADRs are down by more than 3%. The country risk, measured by the JP Morgan bank, remains at 2,458 points.

Global markets traded at low levels this Monday, Stay tuned for news on the Chinese slowdown. Wall Street’s leading indicator, the Dow Jones Index, started the round down 0.38%, due to concerns about the global economy and demand from the world’s largest commodity consumer. Meanwhile, the S&P 500 also fell 0.36%.

The data: Industrial production in China

Industrial production in China increased 3.8% year-on-year in Julya lower figure than the previous month and also significantly below the expectations of the experts, the news agency EFE indicated.

The Chinese National Statistical Office (ONE) today also published other indicators for the seventh month of the year, such as retail sales – a meter of the state of consumption, key to the economic recovery – which also a surprise to the downside up 2.7% year on year, less than the 3.1% in June and the 5% forecast by analysts.

In response to the slowdown, the People’s Bank of China cut key interest rates by 0.1 percentage points and injected the equivalent of $ 59.3 billion in the financial system to stimulate lending and economic growth.

China consumes more than 15% of the world’s oil and more than half of the world’s refined copper, slowing Chinese growth is therefore expected to affect commodity markets in the coming months.

This adverse environment affected the price of Argentine shares listed on this market: all stocks, with the exception of Loma Negra, which was up 0.2%, traded lower,

The most pronounced were Transportadora de Gas del Sur, which lost 4.3%. Investors in the energy company take profits after the stock rose more than 12% in the Buenos Aires stock market last week, following the presentation of the financial statements.

YN