Supporting the bullish trend, the Buenos Aires stock market’s S&P Merval index advanced 4.6% in peso terms to just under three million points, with a 3.4% rise when measured in U.S. dollars. Financial sector equities led gains on the local exchange, with Banco BBVA, Grupo Supervielle, and Banco Macro posting increases from 10.5% to 12.2%. Other energy-related firms such as Vista Energy (+30%), Edenor (+16.9%), Transportadora de Gas del Sur (+16.9%), and Pampa Energía (+13.8%) also benefited from rising global oil prices.
Conversely, Corporación América, Ternium, Globant, and MercadoLibre reported declines ranging from approximately 1.6% to 11.3% for the month. Sovereign debt instruments fluctuated, with the Bonar 2041 bond declining up to 4.6%, while the Global 2046 bond gained 4.3%. Day-to-day prices improved slightly on March 31 with increments near 1.2%, lowering Argentina’s risk premium by 20 basis points to close at 617 points. However, the overall monthly risk country index increased by 7.9%, reflecting continuing concerns amid external uncertainties. The official exchange rate declined modestly as currency market liquidity improved ahead of the agricultural export season.
The market environment indicates sustained sensitivity to geopolitical events and legal outcomes affecting strategic sectors like oil and gas, underscoring the pivotal role of commodity prices and judicial developments on Argentina’s financial instruments and investor sentiment.
This article was curated and published as part of our South American energy market coverage.
