Buenos Aires stock market closes down 0.42%

Argentina's stock market experienced a downturn on Monday, with the S&P Merval index closing down 0.42% at 3,277,511.73 units. The broader S&P BYMA index also fell, dropping 0.70% to 136,874,281.80 points.

Among the leading companies, Grupo Supervielle shares saw the largest decline, falling 4.7%, followed by Telecom Argentina, which dropped 2.6%. On the upside, Loma Negra shares gained 2.3%, and Grupo Financiero Valores rose 2%.

The bond market presented a mixed picture, with Argentine sovereign bonds in dollars trading up to 0.5%. Argentina's risk index decreased to 421 basis points. In the currency markets, the official exchange rate for the US dollar remained stable at 1,480 pesos for retail sales at the state-run Banco Nación and 1,461 pesos in the wholesale market.

However, the parallel 'blue' dollar saw a slight increase, rising 15 pesos to 1,495 pesos for sale. The 'contado con liquidación' (CCL) dollar, which involves buying local assets with pesos and selling them in dollars on Wall Street, jumped 2.6% to 1,528.41 pesos. The 'dólar bolsa' or 'dólar MEP', obtained through buying assets traded in both pesos and dollars, rose 0.5% to 1,484.64 pesos.