Argentina's Shares Sink up to 12% on Wall Street, Led by Mercado Libre

conclusion.com.ar

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Argentina’s shares closed a negative day this Friday after Mercado Libre suffered a collapse of more than 12% on Wall Street after presenting its quarterly balance sheets. The impact soon moved to the local market, the S&P Merval index fell 2.1% and ended at 2,819,130 points, while the ADRs of Argentine companies listed in New York operated mostly in red. Added to this scenario was an adverse international climate marked by the escalation of the…

politicargentina.com

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The S&P Merval retreated 0.5% and was placed at 2.819,130 points, on a wheel crossed by external volatility and profit making. Among the hardest hit stocks appeared Ecogas, with a fall of 1.8%; Edenor, with 1.6%; and Transener, also with a fall of 1.6%.

elCanciller

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Mercado Libre had its best quarter in sales of the last four years with revenues of USD 8,845 million, which meant an annual growth of 49%. However, the net profits -USD 417 million - fell below the expectations estimated by the market and caused a sharp decline in the company’s shares. According to the balance sheet published by the e-commerce giant, the operating result was USD 611 million - a decrease of 19.9% compared to the same period of 2…

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Argentine assets, such as stocks and bonds, are headed to close the week with profits although still the bad international mood can re-influence.

Ultimo Cable - Noticias del Mundo

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BUENOS AIRES.— The shares of the e-commerce giant and fintech MercadoLibre retreated after the company reported profits below estimates for the fourth consecutive quarter, even when its revenues grew at the fastest pace in almost four years. Montevideo-based company recorded revenues of $8.8 billion in the first quarter, an increase of 49% compared to the same period last year and above market expectations, which were around $8.4 billion. Howeve…