Key Facts
The S&P Merval rallied 2.43% to 3,280,224 points, grinding higher through a thin post-holiday session to finish near the day’s high and positioning the index just below its June record close around 3.3 million.
Grupo Galicia led turnover at USD 11m, surging 5.8%, the clearest domestic expression of the bank-led Milei reform trade that has compressed sovereign spreads to levels not seen since April 2018.
Country risk closed near the 400-basis-point threshold, its tightest since 2018, after Economy Minister Luis Caputo’s 2026-2027 financing plan convinced markets Argentina can honour its obligations without raising net debt.
The peso was pinned flat at 1,488 per dollar in the parallel market, stuck at the weak edge of the central bank’s managed 1,273-1,492 band as the crawling-peg framework continued absorbing excess peso liquidity.
