The Argentine stock market closed with a second consecutive loss. The main S&P Merval index fell 1.1% to 2,667,062.54 points, while its dollar counterpart dropped 0.7% to 1,836.47 points. Most stocks traded lower, led by Loma Negra, which fell 3.3%. In contrast, Transportadora de Gas del Sur rose 0.4% and Telecom Argentina increased by 0.5%.
The bond market showed mixed performance. Global bonds (issued under New York jurisdiction) were mostly down, with the Global 2045 leading the decline (-1.5%). Meanwhile, Bonares (issued under Argentine law) rose by 0.9%, driven by the Bonar 2029.
In this context, Argentina's country risk, measured by J.P. Morgan, increased by 1.1% to 566 basis points. This marks the second consecutive rise for this key indicator, complicating the government's efforts to refinance its debt in international markets. American Depositary Receipts (ADRs) also fell, with a drop of up to 3.2%, led by Loma Negra, BBVA Argentina, and Grupo Supervielle (all -2.8%).
This week's financial markets were tense due to uncertainty surrounding the war in the Middle East. The primary concern remains the threatened global energy supply, which keeps the price of Brent oil around $100 per barrel.
