The stock market closed with mixed variations in the Argentine market. The only company that experienced a drop was Cresud, with a decline of 1.5%. In New York, stocks traded unevenly, with Telecom leading the gains with an increase of 3.3%, followed by IRSA (+1.7%) and Banco Supervielle (+1.4%). On the other end, Loma Negra led the losses with a 2.4% decrease, followed by Ternium (-1.2%) and Grupo Financiero Galicia (-0.5%).
Regarding economic indicators, before the close, the Consumer Price Index (CPI) for January was expected to be known, with government expectations around 2.3%. The Argentine market continues in a process of recovery, with a rise in dollar-denominated bonds distancing the country from the 700 basis points risk threshold. Operators maintain confidence in Argentine assets, aligning with the behavior of emerging markets.
Inflation data is eagerly awaited, which could renew economic prospects, while a new agreement with the International Monetary Fund (IMF) is anticipated. Global uncertainty generated by recent decisions by Donald Trump concerning tariffs on raw materials influenced a price adjustment on Argentine assets. However, the government is optimistic about signing with the IMF in the first quarter, as part of the debt restructuring and the arrival of new funds to strengthen the Central Bank’s reserves.
In this context, dollar-denominated bonds had a good performance, with increases of up to 2.3% led by the Global 2030, followed by the Global 2046 (+1.6%) and the Global 2041 (+1.2%). The country risk, measured by J.P. Morgan, decreased by 4 units to 669 basic points, moving away from the 700-point barrier. On the other hand, the leading panel advanced by 1.4% to 2,318,553.18 points, despite accumulating a negative balance of 9.6% so far in February.
Regarding stocks, the S&P Merval rose by up to 3.8%, with Metrogas leading the increases followed by Transportadora Gas del Sur (+3.4%), BBVA (+2.9%), and Transportadora Gas del Norte (+2.8%).
