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BUZZ-Argentina ADRs, ETF climb as Senate passes reform bill
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BUZZ-Argentina ADRs, ETF climb as Senate passes reform bill

** U.S.-listed shares of Argentine companies rise in premarket trading after Argentina's Senate passed a bill that is key to libertarian President Javier Milei's economic reform plans, and renewed a Chinese swap line

** The bill passed after a marathon debate and senators are set to vote on each article of the package designed to boost investment by divesting from state entities and providing incentives for businesses

** The Global X MSCI Argentina ETF ARGT.N gains 5.6%

** Oil company YPF YPF.N up 7.9% and Central Puerto CEPU.N climbs 6.5%

** Financials such as Grupo Supervielle SUPV.N, Banco Macro BMA.N, Banco Bbva Argentina BBAR.N and Grupo Financiero Galicia GGAL.O up more than 5%

** Loma Negra Compania Industrial Argentina LOMA.N adds 1.4%, while IRSA Inversiones y Representaciones Sociedad Anonima IRS.N up 5%

** Tele Argentina TEO.N up 4.1%

** Argentina's local stock index .MERV up 69% this year after having rallied ~360% in 2023


(Reporting by Sruthi Shankar in Bengaluru)

((sruthi.shankar@thomsonreuters.com;))

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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