Argentina's Stocks Rise Amid Political Developments

The Argentine stock market is experiencing gains, with the S&P Merval up by 0.6%. Positive reception from the IMF regarding President Javier Milei boosts investor confidence despite recent volatility.


Argentina's Stocks Rise Amid Political Developments

The Merval index rises by 0.6%, reaching 2,423,655.44 basic points. The stocks with the highest increases in the Leader Panel are BYMA (+2.6%), Metrogas (+2.4%), Grupo Financiero Galicia (+2.1%), Banco Macro (+1.8%), and Transener (+1.6%). On the other hand, Ternium registers a decline of 0.6% and Mirgor 0.9%.

On Wall Street, Argentine stocks show mixed performance, with increases of up to 2.2% and decreases of up to 2.4%. Notable increases include IRSA (+2.2%), Pampa EnergĂ­a (+1%), and Cresud (+1%), while declines are seen in Loma Negra (-2.4%), BBVA (-0.9%), and Banco Supervielle (-0.7%).

The sovereign bonds in dollars that rise the most are the Bonar 2030 and the Global 2035 (+1%), followed by the Bonar 2038 (+0.9%) and the Global 2038 (+0.8%). The country risk stands at 701 basic points, decreasing by 18 units (-2.5%), close to breaking the 700 points.

The S&P Merval experiences an increase both on Wall Street and in the local market, after the volatility caused by the controversy surrounding the token $LIBRA and the management of President Javier Milei. The failed formation of an impeachment commission in the Senate by the opposition and the favorable reception of Milei by the IMF during the meeting with Kristalina Georgieva are factors that have been well received by the market.