Key Facts
The Merval, Argentina’s main stock index, rose 1.14% to 3,122,064 points buoyed by a sharp rally in oil giant YPF.
YPF shares jumped 3.6% on second-quarter net profit of US$1.205 billion and confirmation it will accelerate investment in the Vaca Muerta shale formation.
Argentine country risk, measured by the JPMorgan EMBI+ spread, widened to 465 basis points and the parallel exchange rate faced pressure, putting a brake on broader gains.
Banks ended mixed with Grupo Galicia up 0.6% and Banco Macro adding 0.9% while energy distributor Central Puerto slipped 0.9%.
