Key Facts
- Argentine stocks rose on Wednesday 21 October: Galicia, the largest private bank, gained 4.3% and Banco Macro 2.0%.
- Telecom Argentina rose more than 5% and steelmaker Ternium Argentina about 7%, while oil company YPF edged up 0.2%.
- The peso weakened 0.07% to 1,526 per US dollar, its weakest close in a year on RT data.
- Country risk, the extra yield on Argentine debt, ended the day between 657 and 674 basis points, depending on the source.
- Prediction markets: Polymarket gives Javier Milei 47.5% to win the next presidential election (US$1.05 million traded, read at 8:30 pm ET on 21 October); Kalshi gives him 54%. Bets, not forecasts.
Today’s Focus
Argentine shares rose on Wednesday 21 October, led by banks and by Telecom Argentina. Grupo Financiero Galicia, the largest private bank, gained 4.3% in Buenos Aires.
We do not print a level for the Merval, the main stock index. Local reports agree it rose but differ on the size of the gain, from about 0.5% to 1.6%, after the index switched to a new MSCI-based method on 19 October.
The peso was almost unchanged at 1,526 per US dollar. Country risk, which measures how much more Argentina pays to borrow than the US, ended the day between 657 and 674 basis points, depending on the source.
What matters today. Banks and telecoms led a broad rise in Buenos Aires, even as the peso hugged its weakest level in a year.
01 The session in one read
Argentine stocks rose across most of the market. Galicia gained 4.3%, Supervielle 4.0% and Banco Macro 2.0% in Buenos Aires.
Telecom Argentina rose more than 5% and Ternium Argentina about 7%. YPF, the state-controlled oil company, was almost flat at +0.2%.
On Wall Street, Argentine companies also did well. Telecom Argentina rose 4.6%, the tech firm Globant 3.7% and Galicia 3.8%, while YPF fell 0.8% to US$50.37.
Assessment — A broad rally led by banks MEDIUM
The prices are clear, but the index level is not. Local news sources agree the Merval rose, yet they give different gains, so we leave the level out. The variable to watch is country risk: if it falls toward 650 basis points, bank shares have room to extend their gains.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| Grupo Galicia (Buenos Aires) | ARS6,015 | +4.3% | Largest private bank |
| USD/ARS | 1,525.75 | +0.07% | Peso at its weakest close in a year |
| Country risk | 657–674 bp | — | Sources differ |
| S&P 500 | 7,757 | +0.58% | US stocks rose |
| Brazil fund (EWZ) | US$42.51 | −1.00% | Brazilian shares fell |
The dollar rose 0.07% against the peso on the day, and retail customers at Banco Nación paid 1,545 pesos per dollar.
The peso sits at the weakest level of the past year, up from about 1,320 in October 2025. A weaker peso reduces the dollar value of Argentine shares for foreign investors.
Live Market IntelligenceArgentina — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Argentina — Live Market Board
BYMA · Buenos Aires
Oct 21, 2026 · 21:58
S&P MERVAL · benchmark
3,017,221
—
L 2,991,150day rangeH 3,042,365
+30.51% over 12 months
Market breadth · 14 names
29% advancing
4 ▲ advancing10 declining ▼
Currencies, rates & key inputs
USD / ARS
1,493
+0.10%
Brent crude
88.88
-0.03%
Soybeans
1,184
+3.20%
Sector heatmap · average move today
Utilities
+1.27%
PAMPA, CEPU
Energy
+0.05%
YPF, TGS
Materials
-0.57%
ALUAR, LOMA NEGRA
Telecom
-0.70%
TELECOM ARG
Financials
-1.07%
GGAL, COME, BYMA
Technology
-2.26%
GLOBANT
Mining
-2.35%
TXAR
Consumer Disc.
-2.40%
MIRGOR, MERCADOLIBRE
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil
206,495.23
-0.86%
S&P/BMV IPCMexico
69,583.42
+0.47%
S&P IPSAChile
10,985.55
+0.54%
S&P MERVALArgentina
3,017,221
—
MSCI COLCAPColombia
2,560.37
+1.07%
BVL S&P PerúPeru
59,870.67
-0.52%
Full instrument board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 3,017,221 | — | +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 |
Largest moves today
MERCADOLIBRE
1,870
-3.59%
TXAR
747.50
-2.35%
GLOBANT
38.10
-2.26%
CEPU
2,156
+1.84%
BYMA
275.00
-1.70%
ALUAR
938.00
-1.21%
MIRGOR
1,650
-1.20%
GGAL
6,980
-0.78%
The session read
The S&P MERVAL was little changed on the session, with breadth negative — 4 of 14 names higher. Utilities led, while Consumer Disc. lagged.
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Y
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YPF Sociedad Anonima
NYSE: YPFYPFEnergyOil & Gas Integrated
$19.91B
Market cap
Analyst target $61.97
Wall Street view
4.2Buy/ 5
10 Buy3 Hold0 Sell
Avg. price target $61.97 · +35% vs 200-day
Valuation & profitability
Market cap$19.91B
Revenue (TTM)$29.23T
P / E ratio26.7
Profit margin4.0%
Return on equity7.3%
Price & risk
52-wk low
$25.1052-wk high
$57.87
Beta (volatility)-0.11
200-day average$45.81
Revenue trend · 6y
20202025
Latest $26.53T
Ownership
Institutions40.6%
Shares outstanding392M
Top holderAquamarine Financial (Cayman) Ltd
Institutional holders5+ funds
Dividend
No regular dividend — earnings reinvested for growth.
What YPF Sociedad Anonima does. YPF Sociedad Anónima, an energy company, engages in the oil and gas upstream and downstream activities in South America and Argentina. The company operates through the Upstream, Midstream and Downstream, LNG and Integrated Gas, and New Energies segments. It is involved in the exploration and exploitation of hydrocarbon fields and production of…
03 Why it moved — banks and telecoms lead
Banks led the gains. Galicia, Supervielle, BBVA Argentina and Macro all rose between 2% and 4.3%.
Telecom Argentina and Ternium Argentina rose more than 5%. Ternium Argentina is the local steelmaker.
A supportive backdrop came from Wall Street, where the S&P 500 rose 0.6% and the Nasdaq 1.1%. We could not confirm a single Argentine news trigger for the day’s rise.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Ternium Argentina | ARS767 | +6.9% | Steelmaker, biggest gainer on our board |
| Telecom Argentina | ARS4,275 | +5.7% | Telecoms |
| Grupo Galicia | ARS6,015 | +4.3% | Largest private bank |
| Supervielle | ARS2,426 | +4.0% | Bank |
| BBVA Argentina | ARS6,940 | +2.3% | Bank |
| Banco Macro | ARS10,530 | +2.0% | Bank |
| Aluar | ARS835 | +1.7% | Aluminium producer |
| Pampa Energía | ARS5,100 | +0.4% | Energy |
| Transener | ARS2,415 | +0.3% | Power transmission |
| YPF | ARS8,240 | +0.2% | State-controlled oil company |
| Central Puerto | ARS1,995 | +0.1% | Power generation |
No stock on our board fell in Buenos Aires. Energy names such as YPF, Pampa and Central Puerto were close to flat.
05 The regional scoreboard
| Index | Country | Change | |
|---|---|---|---|
| Merval | Argentina | up | Size varies by source |
| Ibovespa | Brazil | −0.86% | |
| S&P/BMV IPC | Mexico | +1.43% | |
| S&P IPSA | Chile | +0.54% | |
| COLCAP | Colombia | +1.07% |
Argentina rose with Mexico, Colombia and Chile, while Brazil’s Ibovespa fell 0.9% on election nerves.
Argentina’s monthly economic activity index and its leading indicator were scheduled for the day. Our calendar carries no result, so we do not report one.
06 The technical picture
Without a reliable Merval close we leave out the index’s technical levels. For the peso, 1,526 per dollar is the weakest close in a year, and a move above it would be a new low for the currency.
For foreign investors, the combined read is that Argentine shares rose while the currency weakened slightly, so dollar gains were a little smaller than peso gains.
What Prediction Markets Say
Polymarket, a prediction market, priced Javier Milei at 47.5% to win the next presidential election, ahead of Axel Kicillof at 32.5%, with US$1,048,024 traded (read at 8:30 pm ET on 21 October). Kalshi, a US exchange regulated by the CFTC, gave Milei 54.0% and Kicillof 29.0%.
These prices are bets, not forecasts. They can move quickly on inflation data and 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
- Consumer confidence (Thursday 22 October, 16:00 Lisbon): The forecast is 41.5 (previous 41.8).
- Retail sales for August (Thursday 22 October, 20:00 Lisbon): The forecast is +27% on the year (previous +23%).
- Country risk: A fall toward 650 basis points would help banks; a rise back above 700 would hurt them.
- The peso: A move beyond 1,526 per dollar would be a new low for the past year.
Background: Argentina Stocks Dip 0.3% as Risk Eases.
Background: Argentina Stocks Fall, Debt Risk Hits 675.
Frequently Asked Questions
What is the Merval?
It is Argentina’s main stock index, tracking the biggest listed companies on the Buenos Aires exchange. It switched to a new MSCI-based method on 19 October.
Why do you not give a Merval level?
Local sources agree the index rose on 21 October but report different gains, so we do not print a number we cannot verify.
What does country risk mean?
It is the extra yield investors demand to hold Argentine debt instead of US Treasuries. A reading near 660 basis points means about 6.6 percentage points.
What do prediction markets say about Argentina?
Polymarket gave Javier Milei 47.5% to win the next presidential election and Kalshi gave him 54%, as of 8:30 pm ET on 21 October. These are bets, not forecasts.
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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