Key Facts
The Merval, Argentina’s main stock index, fell by 1.07% to close at 3,283,854 on Thursday, retreating from elevated levels as traders locked in recent gains.
The peso weakened by 0.47% to trade at 1,496 per US dollar, touching its weakest level in 52 weeks, according to end-of-day data.
Grupo Galicia and Banco Macro led the financial sector lower, with volume leader Galicia declining 0.7% on the session as the ‘Milei reform trade’ momentum paused.
Energy giant YPF slipped 0.6% and Pampa Energía dropped 2.0%, dragging on the index despite a slight gain in the US S&P 500 overnight.
