Buenos Aires stock market closes up 1.26%

Argentina's stock market saw a positive performance on Thursday, with the benchmark S&P Merval index of leading companies closing up 1.26%. The index reached 3,333,406.84 units by the end of trading on the Buenos Aires Stock Exchange.

The broader S&P BYMA general index also experienced gains, advancing 0.81% to settle at 139,348,621.81 points. Among the top-performing stocks, BBVA Argentina saw a rise of 4.5%, and Banco Macro increased by 3.9%. Conversely, Telecom Argentina shares fell 4.1%, and Transener declined by 0.9%.

In the bond market, Argentine sovereign bonds denominated in US dollars traded higher, with some instruments gaining up to 1%. The country's risk index, a measure of perceived investment risk, decreased to 429 basis points. This indicates a slight improvement in investor sentiment towards Argentine debt.

On the currency front, the US dollar saw an increase against the Argentine peso. The official exchange rate at Banco Nación rose by 10 pesos to 1,470 pesos for selling. In the wholesale interbank market, the dollar climbed to 1,450.50 pesos per unit. The parallel or 'blue' dollar market also experienced an increase, rising 10 pesos to 1,485 pesos for selling. The 'contado con liquidación' (CCL) rate, used for converting pesos to dollars through stock transactions, increased by 0.2% to 1,508.28 pesos. The 'dólar MEP' rate, another stock market-based exchange rate, rose 0.5% to 1,468.31 pesos.