Argentine stocks fall up to 6% in Buenos Aires and Wall Street

By , in Finance on .

The turmoil in emerging markets added to the concerns in the country about the confessions of bribes during the Kirchner government on Friday down the price of Argentine stocks.

In Buenos Aires, the stock market fell 3.2%, with losses of up to 6% in some securities. Meanwhile, in New York, the ADRs of local companies plus those listed directly on Wall Street fell back to 6%, with significant losses for Banco Galicia (-6.4%) and Supervielle (5.5%). On Thursday, the Central Bank ordered a new 3-point rise in the reserve requirements of the banks (the money they should leave immobilized) in order to prevent the pesos that remained in the market after the renewal of the Lebac pressure on the dollar.

The banks were also among those who lost most in the Buenos Aires precinct. Thus, Galicia fell 6.2%. Also the Supervielle left beaten, along with Loma Negra and Holcim, the two cement manufacturers that will be affected if the public works projects become complicated due to the revelations of the notebooks of the bribes.

Meanwhile, the dollar at the wholesale level rose 10 cents to $ 29.80, in line with the rest of the Latin American currencies.

The country risk rose again, about 11 points, to 674 basis points.