Buenos Aires stock market closes down 0.89%

The Buenos Aires stock market experienced a downturn on Tuesday, with the S&P Merval index closing 0.89% lower at 3,248,427.85 units. The general S&P BYMA index also declined by 1.06%, settling at 135,426,498.84 points.

Among leading companies, Edenor shares saw the steepest drop at 3.1%, followed by Grupo Financiero Galicia at 2.5%. Conversely, Loma Negra shares gained 4.5%, and Ternium shares rose by 2.8%.

In the bond market, Argentine sovereign dollar-denominated bonds traded with losses of up to 0.7%. Argentina's risk index increased to 433 basis points. The US dollar strengthened against the Argentine peso, climbing 10 pesos to 1,490 pesos for public sale at the state-run Banco Nación. In the wholesale official market, it advanced to 1,470.50 pesos per unit.

The informal 'blue' dollar rate also rose by 10 pesos to 1,505 pesos for sale. The 'dólar contado con liquidación' (CCL), which involves buying local assets with pesos and selling them in dollars on Wall Street, jumped 1.5% to 1,553.35 pesos. The 'dólar bolsa' or 'dólar MEP', obtained by buying assets traded in both pesos and dollars, rose 1.5% to 1,506.68 pesos.