Business

Sharp drop in the value of Argentine assets

ADRs dropped 8%: Banco Macro led the retreats with -8.1%. Then, BBVA assets (-7.6%); Galicia (-7.4%); and Ternium (-6.9%) followed.
S&P Merval fell 4.2% to 35,222.43 units, where YPF shares fell 5.5% following adverse accounting results and the collapse of oil. In the fixed-income segment, the first dollar-denominated bonds fell to 7%, and country risk exceeded 2,400 points, 3.4%, its highest level in the last six months. The Buenos Aires Stock Exchange opens with a 12.7% collapse.

Source: Ámbito