Merval Falls 1.29% as Argentine ADRs Slide Across Latin America
Key Facts
- The S&P Merval fell 1.29% to 3,021,926 points on Friday, according to EFE and Infobae closing reports.
- The peso closed at 1,514 per dollar, up 0.26% on the day, and 0.35% weaker across the week, per RT.
- Country risk was reported around 524 to 525 points, up about 1.4% over 24 hours, according to Infobae and LM Neuquén.
- INDEC reported an August trade surplus of US$2.187 billion, beating the Reuters poll forecast of US$2.115 billion by US$72 million.
- The Argentina fund ARGT fell 1.50% to US$92.43, while the Latin America fund ILF lost 1.16% to US$35.04.
- Central Puerto’s ADR dropped 7.04% to US$13.46, while Supervielle fell 4.06% to US$8.04 and YPF rose 0.88%.
Today’s Focus
Argentina’s market fell on Friday and the region fell with it. The Merval lost 1.29% to 3,021,926 points, according to EFE and Infobae closing reports.
The peso closed at 1,514 per dollar, up 0.26% on the day and 0.35% weaker across the week, according to RT. Country risk was reported around 524 to 525 points, up about 1.4% over 24 hours.
The trade data released the same morning was better than expected. INDEC reported an August surplus of US$2.187 billion against a Reuters poll forecast of US$2.115 billion.
That gap of US$72 million did not lift equities. Argentine ADRs were mostly lower, with Central Puerto at -7.04% and Supervielle at -4.06%, while YPF rose 0.88%.
The Argentina fund ARGT closed at US$92.43, down 1.50% on the day. The Latin America fund ILF lost 1.16% to US$35.04.
What matters today. Whether the August trade surplus of US$2.187 billion can hold the peso while ADRs and the Merval keep falling. The external account is strong and the asset prices are not.
| Instrument | Level | Session |
|---|---|---|
| Ibovespa (Brazil) | 185,229.17 | -0.41% |
| S&P 500 (US) | 7,650.50 | +0.17% |
| Nasdaq Composite (US) | 26,523 | +0.39% |
| VIX (US volatility) | 14.81 | -4.08% |
| USD/BRL | 5.1445 | +0.30% |
| Gold (per ounce) | US$4,380.01 | +0.77% |
| Silver (per ounce) | US$66.35 | +1.41% |
| Oil fund (USO) | US$153.82 | -0.96% |
Friday, 18 September 2026 close. Gold, silver and the oil fund in US dollars.
01 The session in one read
Friday’s session was a regional decline with an Argentine accent. The Merval fell 1.29% to 3,021,926 points while most major Latin American markets closed lower.
The peso closed at 1,514 per dollar, up 0.26% on the day and 0.35% weaker across the week, according to RT. Country risk was reported around 524 to 525 points, up about 1.4% over 24 hours.
The dollar-denominated view is blunter than the peso index. ARGT closed at US$92.43, down 1.50% on the day.
The Latin America fund ILF lost 1.16% to US$35.04. Mexico’s IPC fell 0.78% and Brazil’s Ibovespa lost 0.41%, so the direction was shared.
The trade surplus released on Friday morning was larger than analysts expected. INDEC reported US$2.187 billion against a Reuters poll forecast of US$2.115 billion.
That is a gap of US$72 million in Argentina’s favour. It did not stop the equity market from falling on the same morning.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| S&P Merval | 3,021,926 | -1.29% | Closed at about 3.02 million points |
| USD/ARS | 1,514 | +0.26% | Week move of +0.35% |
| Country risk | ≈524–525 | +1.4% | Up about 1.4% over 24 hours |
| August trade surplus | US$2.187bn | + | Beat the US$2.115bn forecast |
| ARGT (Argentina fund) | US$92.43 | -1.50% | Closed below US$93 |
| ILF (Latin America fund) | US$35.04 | -1.16% | Regional fund also lower |
The trade surplus is the counterweight. August’s US$2.187 billion extends a run of 33 consecutive months of surplus, according to El Intransigente.
The peso line is the one to watch into next week. RT shows the rate at 1,514 per dollar, up 0.26% on Friday and 0.35% over the week.
The parallel market sat higher than the wholesale rate. Ámbito Financiero reported the wholesale close at 1,510 pesos on Thursday 17 September, with the blue near 1,555 pesos.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
-1.29%
185,229.17
-0.41%
63,706.89
-0.26%
11,381.18
+1.30%
3,021,926
-1.29%
2,548.22
+1.05%
60,023.65
-1.13%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 3,021,926 | -1.29% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| YPF | 7,810 | +0.26% | +72.84% | 7,790 | 7,850 | 7,600 | 1,763,858 |
| GGAL | 6,980 | -0.78% | +1.82% | 7,035 | 7,115 | 6,920 | 1,564,062 |
| PAMPA | 5,115 | +0.69% | +26.70% | 5,080 | 5,140 | 5,000 | 721,190 |
| TXAR | 747.50 | -2.35% | +18.67% | 765.50 | 770.00 | 742.50 | 771,892 |
| ALUAR | 938.00 | -1.21% | +29.83% | 949.50 | 951.00 | 932.50 | 135,426 |
| TGS | 8,870 | -0.17% | +15.05% | 8,885 | 9,075 | 8,720 | 143,546 |
| CEPU | 2,156 | +1.84% | +28.36% | 2,117 | 2,165 | 2,086 | 404,146 |
| MIRGOR | 1,650 | -1.20% | -92.90% | 1,670 | 1,670 | 1,635 | 20,877 |
| COME | 40.93 | -0.73% | -30.47% | 41.23 | 41.60 | 40.50 | 4,258,884 |
| LOMA NEGRA | 3,130 | +0.08% | +5.80% | 3,128 | 3,205 | 3,090 | 182,992 |
| BYMA | 275.00 | -1.70% | +35.14% | 279.75 | 282.50 | 272.00 | 1,409,575 |
| TELECOM ARG | 4,233 | -0.70% | +55.19% | 4,263 | 4,335 | 4,160 | 31,896 |
| GLOBANT | 38.10 | -2.26% | -49.65% | 38.98 | 38.70 | 36.77 | 793,552 |
| MERCADOLIBRE | 1,870 | -3.59% | -20.71% | 1,940 | 1,927 | 1,870 | 329,640 |
03 Why it moved — ADRs and a stronger dollar
Argentine ADRs were mostly lower. Central Puerto lost 7.04% to US$13.46 and Supervielle fell 4.06% to US$8.04.
Banks were uniformly weak. Grupo Galicia fell 2.02% to US$41.76, Banco Macro 2.23% to US$75.06 and BBVA Argentina 2.60% to US$14.25.
Energy was mixed rather than weak. YPF added 0.88% to US$54.96 while Pampa Energía fell 2.36% to US$81.55 and TGS lost 2.81% to US$28.32.
Telecom Argentina fell 2.21% to US$13.70, Loma Negra slipped 0.42% to US$9.51 and Edenor lost 1.72% to US$23.42. Mercado Libre dropped 2.07% to US$1,787.39.
Mexico’s IPC fell 0.78% and Brazil’s Ibovespa lost 0.41%, so the direction was shared. The regional backdrop was negative across the board.
A stronger dollar weighed on emerging-market assets more broadly. The dollar index closed at 100.215, up 1.10% over the week.
04 The day’s movers
| Stock | Close | Move | Note |
|---|---|---|---|
| YPF | US$54.96 | +0.88% | Gained while most Argentine ADRs fell |
| Loma Negra | US$9.51 | -0.42% | Cement maker slipped 0.42% |
| Edenor | US$23.42 | -1.72% | Utility ADR fell 1.72% |
| Telecom Argentina | US$13.70 | -2.21% | Telecom ADR fell 2.21% |
| Grupo Galicia | US$41.76 | -2.02% | Bank ADR fell 2.02% |
| Central Puerto | US$13.46 | -7.04% | Down 7.04% on the day |
Central Puerto’s 7.04% drop was the sharpest move among the large Argentine ADRs. Supervielle fell 4.06% and Banco Macro 2.23%.
YPF was the exception. The state oil company added 0.88% to US$54.96 while Pampa Energía and TGS both fell.
Loma Negra and Edenor also closed lower. The cement maker slipped 0.42% and the utility lost 1.72%.
Telecom Argentina lost 2.21% on the day but remains higher over the week. Its ADR gained 3.40% from Friday 11 September.
05 The regional scoreboard
| Market | Close | Session | Note |
|---|---|---|---|
| S&P Merval (Argentina) | 3,021,926 | -1.29% | Closed at about 3.02 million points |
| Ibovespa (Brazil) | 185,229.17 | -0.41% | Week loss of 1.06% |
| S&P/BMV IPC (Mexico) | 63,375.93 | -0.78% | Week loss of 0.86% |
| S&P IPSA (Chile) | 11,381.18 | — | Market closed for Fiestas Patrias |
| MSCI COLCAP (Colombia) | 2,548.22 | +1.03% | Gain reported by La República |
| S&P 500 (US) | 7,650.50 | +0.17% | Week loss of 0.08% |
Argentina fell while Brazil and Mexico fell more modestly and Colombia rose, according to La República. The direction was shared across the region.
Chile’s market was closed for Fiestas Patrias. Its last close was 11,381.18 on Thursday.
The S&P 500 added 0.17% to 7,650.50. The US benchmark held up better than the Latin American indices.
The dollar index closed at 100.215, up 1.10% over the week. A firmer dollar usually pressures emerging-market currencies and equities alike.
06 The technical picture
The peso index gives no clean technical read because the Merval series is unreliable. The dollar-denominated fund is the better guide.
ARGT closed at US$92.43, below its 50-day average of US$93.98 and above its 200-day average of US$92.74. Its 20-day range runs from US$92.33 to US$99.50.
The fund’s 14-day relative strength index sits at 44.5, a neutral reading that leans neither to buyers nor to sellers. It is 1.12% higher over the past month.
The peso closed at 1,514 per dollar, above its 50-day average of 1,498.43 and well above its 200-day average of 1,440.54. Its 52-week high is 1,516.50.
The currency’s 14-day relative strength index is 57.7, which places it in the upper half of the neutral band. The dollar has gained 1.12% against it over the past month.
Those two readings describe the same week. The equity fund is drifting below its short-term average while the peso holds near the top of its yearly range.
07 What to watch
- Argentina retail sales on Wednesday: The RT economic calendar shows a consensus of 11% year on year against a prior reading of 13.4%.
- Argentina economic activity on Thursday: The RT economic calendar points to 3.5% year on year, up from 2.7% previously.
- The peso at 1,514 per dollar: It closed 0.26% higher on Friday and 0.35% weaker over the week, per RT.
- Country risk near 524–525: Up about 1.4% over 24 hours, according to Infobae and LM Neuquén.
- Brazil’s IPCA-15 on Friday: The RT economic calendar shows a year-on-year consensus of 4.5% against a prior reading of 4.24%.
- Mexico’s rate decision on Thursday: The RT economic calendar lists the announcement at 19:00 UTC with the current rate at 6.5%.
Frequently Asked Questions
Where did the Merval close on 18 September 2026?
The S&P Merval closed at 3,021,926 points, down 1.29%, according to EFE and Infobae closing reports.
What is the Argentine peso worth?
RT shows the peso closing at 1,514 per dollar on Friday, up 0.26% on the day and 0.35% weaker over the week. Ámbito Financiero reported a wholesale close of 1,510 pesos on Thursday 17 September.
What did the August trade data show?
INDEC reported a surplus of US$2.187 billion, above the Reuters poll forecast of US$2.115 billion. It extended a run of 33 consecutive months of surplus.
How did Argentine ADRs perform?
They were mostly lower. Central Puerto lost 7.04% to US$13.46, Supervielle 4.06% to US$8.04 and BBVA Argentina 2.60% to US$14.25. YPF rose 0.88%.
What is country risk in Argentina?
It was reported around 524 to 525 points, up about 1.4% over 24 hours, according to Infobae and LM Neuquén.
How did the Argentina fund perform?
ARGT closed at US$92.43, down 1.50% on the day. The Latin America fund ILF lost 1.16% to US$35.04.
Sources: EFE via Infobae and Infobae closing reports for 18 September 2026; INDEC August 2026 trade release; Reuters poll forecast; Ámbito Financiero and LM Neuquén on dollar quotes and country risk; La República on Colombia’s COLCAP; RT end-of-day series and economic calendar.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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