The Merval index has experienced a decline of 9.3% in pesos and 11.2% in dollars so far this month, affected by the cryptogate scandal involving Milei. Among the shares leading the losses are Edenor (-2.88%), Banco Macro (-2.50%), and Transportadora Gas del Sur (-2.41%).
In contrast, Telecom (+0.43%), Loma Negra (+0.36%), Ternium (+0.17%), and Cresud (+0.09%) have shown increases. In the fixed income market, sovereign bonds in dollars are trading mixed, with increases of up to 0.6% and decreases of up to 0.5%. The last monthly decline occurred in September in local currency and in July in foreign currency.
Internationally, ADRs are mostly trading lower, highlighting the declines of Banco Macro (-3.29%), Transportadora Gas del Sur (-3.14%), and Banco BBVA (-2.95%). This occurs in an unfavorable global context. Market activity, both local and international, starts the week with a negative trend, awaiting news on the agreement between Argentina and the IMF after Javier Milei's trip to the United States.
The S&P Merval index shows a decline of 0.9% and Argentine shares on Wall Street are mainly trading lower this Monday, February 24. Meanwhile, the bonds show mixed behaviors and the country risk remains above 700 basis points. Locally, after a slight initial increase, the Buenos Aires stock exchange suffers a decrease of nearly 1%, standing at 2,342,531.24 basis points, with country risk at 715 basis points.
