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The S&P Merval recovers ground with its sights set on Congress

In a day that seemed to be intrinsically marked by political decisions, the local stock market extended last Friday’s losses.


The leading index of Argentine Stock Exchanges and Markets (BYMA) up 1.2% after closing the first session of the week practically without variations in relation to Friday’s closing, on a day in which the market gave the Government a thumbs down after withdrawing the fiscal package of the omnibus law.

In this way, the Buenos Aires stock market recovers ground in this Tuesday’s session while waiting for Congress to discuss the adjustment plan promoted by the Government of Javier Milei.

BYMA Stock on Leading Panel

Thus, the main increases are for: BYMA (+2.2%); Galicia Financial Group (+2.1%); Southern Gas Carrier (+2%) and Pampa Energía (+1.8%).

For their part, the slight losses are for: Cresud (-1.2%); Northern Gas Carrier (-0.5%) and Ternium (-0.9%).

Argentine shares on Wall Street

Meanwhile, Argentine stocks listed on the New York Stock Exchange (NYSE) extend the red of the previous day with drops for Tenaris (-2.8%); YPF (-1.4%) and Southern Gas Carrier (-1%), although it should be noted that all of them fell, but slightly except for Banco Superville (+1.6%) and Edenor with (+1.3%).

“Given the news about the fiscal package, and waiting for details about the new strategy to balance public accounts, operators are leaning toward a more prudent attitude,” said economist Gustavo Ber.

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