Raw materials rise and shares collapse in the face of the conflict in Ukraine

The prices of raw materials, with strong increases and markets in decline due to the crisis in Ukraine

All three major Wall Street indices closed in the red today.

The episodes recorded in the territory of Ukraine due to the Russian military invasion maintained the upward pressure on commodities such as oil, wheat and corn, which reached historical levels, while the main stock markets continued with a downward trend at the end of the week.

The three main Wall Street indicest closed today in the red, affected by the worsening of the war in Ukraine and aggravated by the bombing of the largest atomic power plant in Europe, which overshadowed the good news for the labor market in the United States.

While, North Sea Brent barrel -reference for the Argentine hydrocarbon industry- closed at 118.11 dollars, a maximum since August 2008, driven by the fall in Russian exports.

The American job market continued to rise in February, with strong job creation, and unemployment approaching pre-pandemic levels.

Nevertheless, the dow jones index lost 0.53%, the technological Nasdaq lost 1.66%, and the S&P 500 0.79%.

With the same tuning, it erred with a fall of 4.97%, in Frankfurt it lost 4.41% and in Milan 6.24%.in Europe, the stock market in Paris c

Meanwhile, the losses were somewhat lower in the squares of London and Madrid, with decreases of 3.48% and 3.63%, respectively.

There is “no desire” to take risks in financial markets, said Ipek Ozkardeskaya, an analyst at Swissquote bank. Investors are mostly trying to protect themselves from losses, he said.

the merval

In the same line, in the porteña square, the Merval fell 2.23% and the losses of the leading stocks were led by Banco Francés (-7.53%); Supervielle Group (-5.43%); Galicia Financial Group (-5.22%); YPF (-5.18%); and Banco Macro (-4.63%).

The only two rises were recorded by Cresud (15.21%); Northern Gas Carrier (2.47%); Aluar (2.16%); Transportadora de Gas del Sur (0.53%) and Transener (0.15%).

In New York, the papers of Argentine companies ended the session with most results in the red, among which Banco Francés (-7.6%) stood out; Globant (-6.4%); Telecom Argentina (-5%); take off (-4.8%); and YPF (-4.6%).

In the opposite direction, the rises were led by Cresud (18.5%); Irsa (3.2%); South Gas Carrier (3.9%); and Edenor (0.6%).

The good performance of the Cresud paper was due to the increase in the price of agricultural commodities.

In the plaza portea el Merval cay 223
In the Buenos Aires square, the Merval fell 2.23%.

in the debt marketbonds in dollars closed the day with losses of US$1 on average throughout the curve.

For its part, Securities in CER-adjusted pesos closed with increases of 0.5% on average for the entire curve.

In this frame, country risk it rose 4.2% to 1,928 basis points.

commodities

Regarding commodities, wheat once again led the rises in the Chicago market, climbing more than US$20 per ton during the day and consolidating a new record price on the stock market after its fifth consecutive rise, while corn also closed the day with raises.

In this way, the March contract wheat it gained 4.57% (US$ 21.68) to US$ 495.31 a ton, while that of May presented an improvement of 6.61% (US$ 27.56) to end the day at US$ 444 .23 the ton.

For its part, the soy closed the day with casualties. Thus, the March contract fell 0.23% (US$ 1.47) to US$ 615.92 per ton, while the May contract fell 0.43% (US$ 2.66) to end the session at US$ 610.13 a ton.

Lastly, the corn rose 0.69% (US$ 2.07) and stood at US$ 297.82 a ton, despite the sharp rise in earnings during the session, when it earned more than US$ 10 and exceeded US$ 300 a ton.

In relation to oil, andA barrel of Brent from the North Sea finished at US$118.11, marking its highest price since August 2008.

Since the Russian invasion of Ukraine began, Brent has risen 21.9%.

The price of a barrel of Brent for delivery in May, gained 6.92% in London this Friday.

Meanwhile, in New York, a barrel of West Texas Intermediate (WTI) for delivery in April rose 7.43% today to 115.68 dollars, also a maximum since September 2008.



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