The Buenos Aires stock market rose only 0.6% after the Fed's decision



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The main panel went up to 29,968.28 units after accumulating a reduction of 4.3% in two previous sessions.

The main increases were recorded by Banco Galicia (2.5%), Central Port (1.8%) and Metrogas (1.7%). While the largest losses were recorded by Edenor (1.6%), Cablevisión (1.4%) and Transportadora de Gás do Norte (1%).

O index rose 2.3%, but cut its trajectory after the US Federal Reserve (Fed) raised interest rates by 0.25 percentage points and gave a very clear signal that it would slow the rate of future increases while monitoring the progress of the economy.

O traveling was in tune with Wall Street, which fell after investors were disappointed by the tone of the Fed.

The results showed that the Dow Jones Industrial Average lost 1.5% to 23,322.88 points, the Nasdaq of technological stocks fell 2.2% to 6,636.83 and the S & P 500 fell 1.5% to 2,506.87. Before the Fed announcement, the three were gaining close to 1%.

The decisions of the US central bank They have a direct impact on all emerging economies, such as Argentina.

"In addition to following the northern jump, following Powell's decision, Domestic assets still lack strategic demand the fears grow by the "electoral risk" and by the & 39; refinancing risk & # 39; of the depletion of IMF resources, "said economist Gustavo Ber.

"As long as the country risk does not decrease substantially in order to regain access to external voluntary credit, any recovery could be used as a selling opportunity by foreign investors, which undoubtedly strong condition for recovery beyond the more attractive assessments. "

Fears grow over the election risk & # 39; and the & 39; refinancing risk & # 39; the depletion of IMF resources "(Gustavo Ber, economist)

Bonus

The main dollar-denominated securities (which operate in pesos) closed in positive territory. Bonar 2024 increased 1.6%, Bonar 2020 increased by 0.3% and Discount in Argentine law gained 1%.

However, Country risk increases by only one unit to 782 basis points.

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