Key Facts
Argentine equities rose with the ARGT proxy for the Buenos Aires market up 2.78% on the day to 93.99, though still 8.4% below its 52-week high of 102.57
Grupo Galicia led the most-traded board gaining 4.4% on roughly $14m of turnover, the heaviest single-name flow of the session and the clearest expression of the bank-led reform trade
the split within the tape was the story as banks and infrastructure outran a softer energy complex, with YPF up only 1.5% on $11m and Pampa essentially flat at +0.3%
country risk sat near an eight-year low with JPMorgan’s EMBI spread around 412 basis points as of July 5, the tightest since 2018 and the credit backdrop underpinning the equity bid
