Buenos Aires stock market closes down 1.48%

Buenos Aires' stock market experienced a downturn on Tuesday, with the leading S&P Merval index registering a 1.48% decrease and closing at 3,256,361.65 units. The broader S&P BYMA index followed suit, declining by 1.55% to reach 137,121,964.91 points.

Among the top-performing stocks, Metrogas saw the steepest decline at 4.3%, closely followed by Edenor, which dropped 3.2%. Conversely, Aluar shares rose by 1%, and IRSA saw a modest gain of 0.2%. The performance of these blue-chip companies reflects a broader market sentiment of caution.

In the bond market, Argentine sovereign bonds denominated in US dollars experienced a decline of up to 0.4%. Concurrently, Argentina's country risk index saw a slight reduction, settling at 441 basis points. This indicates a marginal improvement in perceived risk despite the broader market's negative trend.

The currency market presented a mixed picture. The official exchange rate for the US dollar remained stable at 1,520 pesos for public sale at the Banco Nación. However, in the wholesale market, the dollar appreciated by 1 peso, reaching 1,497.50 units. The informal 'blue' dollar rate saw an increase of 10 pesos, trading at 1,570 pesos for sale. Meanwhile, the 'contado con liquidación' (CCL) rate climbed 0.2% to 1,599.81 pesos, and the 'dólar bolsa' or 'dólar MEP' advanced to 1,533.50 pesos.