Argentine shares were forced down today by global shares and concerns on the Greek crisis, led by heavy losses for banks and energy companies.
The Merval benchmark index plunged 3.2 percent, with banks and energy companies were the most affected sectors.
Francés Bank sank 4.9% over the course of trading, with Macro shares also plummeting 4.6%. The Galicia group was another to lose heavily in the banking sector, falling 4.2% today.
In the energy sector Petrobras lost 4.2%; Pampa Energía, 3.1%, and Edenor 2.9%.
The country risk saw a large spike, with bank JP Morgan’s estimates rising 5.1% to 619 points. Local bonds, however, bucked the downward trend elsewhere in the market.
The Boden 2015 rose 0.6% and the Bonar 2017 0.3%. The local dollar-denominated Discount fell 0.9%, while the Bonar 2024 was slightly lower by 0.1%.
Source: Buenos Aires Herald