Argentine assets came under pressure on Friday, May 15, as country risk rose 2.5 percent to 538 basis points. The S&P Merval fell 1.4 percent in pesos and most ADRs closed in the red.
Argentine sovereign bonds in Wall Street fell as much as 1.6 percent, led by the GD46D. The country risk index compiled by J.P. Morgan reached 538 basis points after opening at 525 and hitting an intraday high of 540.
The S&P Merval dropped 2.1 percent in dollars to around 1,816 points, its lowest level in two months. Among local shares, Transportadora de Gas del Norte declined 5 percent and Edenor lost 4.3 percent.
ADRs posted mixed results. Grupo Supervielle fell 4.4 percent, Telecom Argentina 3.9 percent and Edenor 3.8 percent, while Globant gained 14.2 percent. Milo Farro of Rava Bursátil noted that bank results showed a slight recovery in profitability.
YPF filed a RIGI project worth 25 billion dollars for integrated development of areas in Vaca Muerta. The plan aims to generate 6 billion dollars in annual exports by 2032 and create 6,000 direct jobs.
