Merval Gains 0.3% as Loma Negra Jumps 4.6% | Argentina Market Report, Oct 8
Key Facts
- The S&P Merval, Argentina’s main stock index, rose 0.30% to 2,832,472 points on Thursday 8 October, led by cement maker Loma Negra (+4.6%), the EFE news agency reported.
- Country risk, the extra yield investors demand on Argentine dollar bonds, was about 588 basis points, up 2 on the day, while sovereign bonds in dollars rose by up to 1.9% (EFE).
- The official wholesale dollar closed at 1,515.50 pesos, against 1,516.00 in RT’s close (-0.10%); the parallel (blue) dollar fell 15 pesos to 1,540.
- Argentine shares in New York were mostly higher: the Global X MSCI Argentina ETF (ARGT) gained 0.44%, YPF 0.85% and Loma Negra 5.15% (RT).
- Prediction markets: Polymarket gives Javier Milei 55.5% to win the 2027 presidential election (US$826,000 traded, as of 8:23 pm ET, 8 October). Kalshi has Milei at 58.0%. Bets, not polls.
Today’s Focus
Argentine stocks rose slightly on Thursday 8 October. The S&P Merval, the main index of the Buenos Aires exchange, gained 0.30% to 2,832,472 points, even as Wall Street fell.
Bonds also gained. Argentine government bonds in dollars rose by up to 1.9%, and country risk stayed near 588 basis points.
For a US investor, the session was a calm rebound after Wednesday’s 2.5% drop, with the peso steady in the official market.
What matters today. Calm trading after the sell-off shows that local assets are recovering. The 2027 election is the next big factor for investors.
01 The session in one read
The Merval closed at 2,832,472.06 points, up 0.30% from 2,824,123 on Wednesday, when it fell 2.51%. The broader S&P BYMA General index rose 0.33%.
The wholesale dollar, the rate for large trades, closed at 1,515.50 pesos, according to EFE. RT’s close was 1,516.00 pesos, down 0.10%. Retail dollars, such as the official Banco Nación rate and the blue rate, stood at 1,540 pesos.
Two rates that investors use to move money abroad were lower: the ‘contado con liquidación’ (CCL) closed near 1,606 pesos, and the MEP dollar at 1,538.27.
A 0.30% gain after a 2.5% fall is a pause, not a recovery. The bond rise and the stable exchange rate are signs of calmer markets.
We cannot tell from one session whether foreign buyers have returned. Higher US Treasury yields remain the main outside risk for Argentine assets.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| S&P Merval | 2,832,472 | +0.30% | Small rebound |
| Wholesale USD/ARS | 1,515.50 | -0.10% | Peso steady (RT 1,516.00) |
| Country risk | 588 bp | +2 bp | About flat |
| CCL dollar | about 1,606 | — | Financial dollar |
| Argentina ETF (ARGT) | US$88.21 | +0.44% | New York proxy |
| S&P 500 | 7,765 | -0.47% | Wall Street slips |
The RT calendar listed no Argentine economic release on 8 October. Dollar bonds rose by up to 1.9%, according to EFE. Country risk, the JP Morgan index that measures the gap between Argentine and US bond yields, rose 2 points to 588. Another report put it at 585, so we say ‘about 588’. Rio Times · Live Market Intelligence
Live Market IntelligenceArgentina — Live Market Board
Argentina — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
MERVAL
2,832,472
+0.30%
+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: a calmer day for local assets
The session was quiet and positive for local assets. Bonds rose, the peso held, and the largest companies were mixed.
Wall Street, in contrast, fell: the S&P 500 lost 0.47% and the Nasdaq 1.25%, and oil rose. Argentine energy shares in New York had a stable day: YPF gained 0.85%.
04 The day’s movers
| Stock | Change | Note |
|---|---|---|
| Loma Negra | +4.6% | Cement maker, best of the day (Buenos Aires) |
| Telecom Argentina | +1.7% | Telecoms |
| IRSA | -1.8% | Real estate |
| BBVA Argentina | -1.9% | Bank |
Buenos Aires moves are from EFE. In New York, Loma Negra rose 5.15%, Pampa Energía 0.70%, Telecom 1.43%, Central Puerto 0.96%, Galicia lost 0.78% and Banco Macro 0.02% (RT).
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Merval | Argentina | +0.30% |
| Ibovespa | Brazil | +0.94% |
| IPC | Mexico | +0.52% |
| IPSA | Chile | +0.22% |
| COLCAP | Colombia | -0.37% |
| S&P 500 | United States | -0.47% |
Argentina ranked third among the five markets, behind Brazil and Mexico.
06 The technical picture
The Merval is trying to hold above 2.8 million points. A close under Wednesday’s low would signal more selling.
In the currency market, the gap between the wholesale rate of 1,515.50 and the CCL rate of about 1,606 is about 6%. A narrower gap is usually read as a sign of confidence.
What Prediction Markets Say
On Polymarket, the Argentina Presidential Election Winner market priced Javier Milei at 55.5%, Axel Kicillof at 31.5% and Sergio Massa at 7.5%, with US$826,000 traded (read at 8:23 pm ET on 8 October).
Kalshi, a US exchange regulated by the CFTC (the US commodities regulator), prices Milei at 58.0% and Kicillof at 36.0%, with 39,656 contracts traded. These prices are bets, not polls.
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
- Country risk: A move below 550 basis points would show that foreign investors are returning.
- US yields: Treasury yields set the tone for emerging-market bonds.
- The CCL gap: The distance between the official and financial dollars is a gauge of confidence.
- Friday 9 October: The USDA WASDE report matters for Argentina’s soy and corn exports.
Background: Merval Falls 2.5% as Country Risk Hits 586 | Argentina Market Report, Oct 7.
Background: Argentina Market Report, Oct 5.
Frequently Asked Questions
How did Argentine stocks do on 8 October?
The S&P Merval rose 0.30% to 2,832,472 points, led by Loma Negra (+4.6%) and Telecom Argentina (+1.7%), according to EFE.
Where did the Argentine dollar close?
The wholesale dollar closed at 1,515.50 pesos, according to EFE; RT shows 1,516.00. The blue dollar was at 1,540.
What is country risk?
It is the extra yield investors demand to hold Argentine dollar bonds instead of US Treasuries. It was about 588 basis points on 8 October.
What do prediction markets say about the 2027 election?
Polymarket priced Javier Milei at 55.5% and Axel Kicillof at 31.5% as of 8:23 pm ET, 8 October. These are bets, not polls.
Market data: RT; Buenos Aires close and bonds: EFE; prediction markets: Polymarket, Kalshi (as of 8:23 pm ET, 8 October 2026)
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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