The Global 2038 index advanced 0.7%, according to Noticias Argentinas agency. Meanwhile, Argentine ADRs recorded mostly declines, led by Banco Macro (-4.8%), Edenor (-3.3%), and Grupo Financiero Galicia (-3.3%). The country's risk premium is above 570 basis points. Locally, all Argentine dollar-denominated stocks fell, led by Bonar 2035 (-1.6%). In turn, Bolsas y Mercados Argentinos lost 2.3%.
During the week, Transener showed an 8.7% gain and YPF an 8.5% gain, but Banco BBVA lost 12% and IRSA 10.5%. In contrast, YPF climbed 2.5%. In the weekly register, widespread losses of up to 10% were recorded, led by Ternium; however, the rise in oil prices due to the Iran war benefited oil stocks: Vista climbed 5.2%, YPF rose 2.5%, and Pampa Energía 1.5%. Locally, the S&P Merval advanced 2.2% to 2,626,114.83 points in pesos, but its dollar counterpart rose 1.5% to 1,778.25 points. Most stocks traded with gains, led by Ternium (+7.6%) and Aluar (+6.4%). This was followed by Bonar 2041 (-1.3%) and Global 2038 (-1.2%). In the weekly cumulative, bonds mostly posted negative results, with Global 2046 leading the losses by falling 1.5%, followed by Bonar 2038 (-1.2%). In the General Panel, Ferrum stood out, soaring 14.4%.
"Argentine oil papers rise amid the escalation of the war in the Middle East."
