Argentina Stocks Fall 1%, YPF Drops 3.1% | Argentina Market Report, Oct 29
Key Facts
- Argentina’s main stock index, the Merval, fell about 1% to roughly 94,530 points on Thursday, a fourth lower close this week.
- YPF, the state-controlled oil company, dropped 3.1% in New York; Edenor, an electricity distributor, fell 2.2%, while Banco Macro, a large bank, rose 1.8%.
- The peso edged up about 0.2% to roughly ARS 1,538 per US dollar in our market feed, while Brent oil rose about 0.6% to roughly US$111.
- For US investors: the Global X MSCI Argentina ETF (ARGT) lost 1.03% to US$81.48, and the S&P 500, the main US stock index, fell 0.30%.
- Prediction markets: Polymarket, a prediction market, puts 75.2% on Argentine annual inflation for 2026 landing between 30.0% and 34.9%, as of 29 October 2026, 8:45 pm ET.
Today’s Focus
Argentina’s stock market kept sliding on Thursday. The Merval, the index of Buenos Aires’s most traded companies, fell about 1% to roughly 94,530 points.
The biggest drag came from energy: YPF, the state-controlled oil company, lost 3.1% in New York even though oil prices stayed high. Banks were split, with Banco Macro up 1.8% and Banco Galicia down 0.3%.
The peso, by contrast, edged up slightly against the dollar.
What matters today. Argentina depends on foreign investors’ willingness to hold its shares and bonds, so a run of lower closes makes borrowing abroad harder and costlier.
01 The session in one read
The Merval closed at roughly 94,530 points on Thursday 29 October, down about 1% from 95,439 on Wednesday. It was the fourth lower close of the week, after losses on Monday, Tuesday and Wednesday.
In New York, the picture was mixed. YPF fell 3.1% and Central Puerto, a power producer, about 1.9%, while Banco Macro gained 1.8%, BBVA Argentina 1.0% and Cresud, a farmland company, 0.8%.
Wall Street was weak, with the S&P 500 down 0.30% and the Nasdaq down 1.38%.
The Merval’s fall of about 1% was close to Brazil’s 1.06%, which fits the pattern this week of Argentine shares following Brazil. Argentine shares listed in New York fell as well, with ARGT down 1.03%.
We could not confirm a single trigger, and the end-of-day Merval level is only approximate. The variable to watch is whether the slide extends or the peso’s stability draws buyers back.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| Merval | 94,530 (approx.) | −1.0% | Fourth lower close this week |
| USD/ARS | about 1,538 | −0.21% | Peso edged up |
| ARGT ETF | US$81.48 | −1.03% | US-listed Argentina fund |
| S&P 500 | 7,720 | −0.30% | Wall Street lower |
| Brent oil | US$111 | +0.6% | Oil rose modestly |
The Merval is reported here from the exchange feed one minute before the close, so we call it about 94,530 and a fall of about 1%.
The dollar rate is the market rate in our feed, 1,538.50 pesos per dollar. It is not the official Banco Nación quote, which we could not confirm for Thursday. Rio Times · Live Market Intelligence
Live Market IntelligenceArgentina — Live Market Board
Argentina — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
MERVAL
2,848,945
—
+12.65%
2,859,051
—
—
—
USD/ARS
1,537
-0.28%
+3.77%
1,541
1,541
1,537
—
YPF
8,140
-1.45%
+67.04%
8,260
8,400
8,130
1,057,856
GGAL
5,825
-2.27%
-17.84%
5,960
6,090
5,820
1,091,278
PAMPA
5,035
-2.04%
+11.33%
5,140
5,225
5,025
226,261
TXAR
761.00
-3.00%
+29.77%
784.50
798.50
757.00
1,172,882
ALUAR
855.00
-1.50%
+5.30%
868.00
910.00
854.00
265,896
TGS
8,400
-4.00%
-6.25%
8,750
8,920
8,400
71,435
CEPU
1,920
-1.39%
-1.35%
1,947
1,999
1,909
165,948
MIRGOR
1,775
-0.56%
-90.15%
1,785
1,805
1,735
6,214
COME
35.15
-1.90%
-14.82%
35.83
35.90
35.01
2,274,189
LOMA NEGRA
3,085
-2.14%
+2.32%
3,153
3,200
3,085
110,621
BYMA
237.00
-1.46%
+5.80%
240.50
246.00
236.50
687,747
TELECOM ARG
3,870
-3.31%
+22.00%
4,003
4,108
3,870
11,330
GLOBANT
42.42
-5.73%
-31.91%
45.00
45.00
42.35
257,828
MERCADOLIBRE
1,700
+1.89%
-26.07%
1,669
1,728
1,672
504,596
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03 Why it moved: oil and power shares
YPF, Argentina’s biggest oil company, closed at US$47.81 in New York, down 3.1%. Edenor, an electricity distributor, fell 2.2% to US$16.66 and TGS, a gas pipeline operator, 1.1%.
Banks held up better than earlier in the week: Banco Macro rose 1.8% to US$61.27 and BBVA Argentina 1.0% to US$11.94, while Banco Galicia lost 0.3% to US$33.73.
The US economy grew 3.4% at an annual rate in the third quarter, the Bureau of Economic Analysis (BEA), the US statistics agency, said on Thursday, above the 3.2% forecast in the RT economic calendar. Strong US growth can keep the dollar and US rates firm, which weighs on emerging markets.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| YPF | State-controlled oil company | −3.1% | Weakest big name |
| Edenor | Electricity distributor | −2.2% | Power shares weak |
| Central Puerto | Power producer | −1.9% | Power shares weak |
| Banco Galicia (GGAL) | Large private bank | −0.3% | Little changed |
| Telecom Argentina (TEO) | Telecoms group | −0.1% | Flat |
| BBVA Argentina (BBAR) | Local unit of Spain’s BBVA | +1.0% | Bucked the trend |
| Banco Macro (BMA) | Large private bank | +1.8% | Best bank |
Moves are for the New York-listed shares, rounded, and are the closest daily gauge of foreign investors’ view of Argentine companies.
For US investors, ARGT fell 1.03% to US$81.48. The fund holds a basket of Argentine shares.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Merval | Argentina | −1.0% |
| Ibovespa | Brazil | −1.06% |
| IPC | Mexico | +0.87% |
| IPSA | Chile | −1.25% |
| COLCAP | Colombia | −0.63% |
Argentina fell by about the same as Brazil, which lost 1.06%, and less than Chile’s 1.25%.
Mexico’s IPC rose 0.87% and was the only major market in the region to gain.
06 The technical picture
The Merval has now lost ground every session this week, and the smaller falls on Wednesday and Thursday suggest a slide that is slowing but not yet over.
A close above Wednesday’s 95,439 would be the first sign of a bounce. Until then, traders treat the index as being in a correction.
What Prediction Markets Say
On Polymarket, a prediction market, traders put the chance that Argentina’s annual inflation for 2026 lands between 30.0% and 34.9% at 75.2%. They give 17.0% to a range of 25% to 29.9% and 5.1% to 35% to 39.9%. About US$88,000 has been traded on this market, as of 29 October 2026, 8:45 pm ET.
Prices on prediction markets are bets, not polls or forecasts by officials.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
07 What to watch
- Brazil’s market: Argentine shares have followed Brazil all week, so another Brazilian fall would likely pull the Merval lower.
- The peso: Calm at about ARS 1,538 per dollar in our feed; a sharp move would signal stress.
- Inflation data: October inflation figures from the statistics agency, Indec, will test the market’s view that 2026 inflation stays near 30% to 35%.
- US growth and rates: With US growth at 3.4%, a firm dollar remains a headwind for Argentine assets.
Background: Argentina Stocks Fall 1.30% as Banks Slip.
Background: Argentina Stocks Fall 2.6% on Brazil Risk.
Frequently Asked Questions
Why did the Merval fall on Thursday?
Energy and power shares led the fall, with YPF down 3.1% in New York. We could not confirm a single trigger.
What is the Merval?
It is the main stock index of Buenos Aires, tracking Argentina’s most traded companies.
Did the Argentine peso weaken?
No. In our market feed it edged up about 0.2% to roughly 1,538 per dollar.
How did Argentine shares do in New York?
The ARGT fund lost 1.03%, YPF fell 3.1% and Banco Macro rose 1.8%.
Market data: RT; exchange figures from BYMA
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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