The euphoria in Argentine markets and investors' confidence show no signs of running out. This Monday, the S&P Merval advanced 3.4% in pesos (3.4%) and 2.3% in dollars (2.3%), surpassing 2,000 points in its dollarized version—the highest level since May—and consolidating the momentum that began after La Libertad Avanza's legislative victory, which transformed economic expectations.
In the Buenos Aires stock exchange, gains were widespread. Telecom Argentina led the podium with an 11.6% increase (11.6%), followed by Ternium (+8.4%) and Banco BBVA (+7%). Merval closed at 3,104,495 points, and its capitalization in dollars reached 2,042.46 points, confirming the year's best mark.
On Wall Street, Argentine ADRs also maintained their momentum and climbed as much as 7.1%, also with Telecom at the forefront, Edenor (+5.8%) and Central Puerto (+5%) among the most notable, while Loma Negra fell 2.6%. Global bonds in dollars showed slight declines, while Bonares traded mixed with a slight majority of gains.
The rebound comes after a historic October for Argentine assets, with the largest stock market rise in three decades: Merval soared 74% in dollars (74%), ADRs rose as much as 150%, and sovereign bonds advanced 35%, which allowed country risk to break through the 700 basis points mark.
