Argentina ADRs, ETF climb as Senate passes reform bill

Central Puerto SA

13/06/2024 14:09

** 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 nearly 69% this
year after having rallied ~360% in 2023

 (Reporting by Sruthi Shankar in Bengaluru)
 ((sruthi.shankar@thomsonreuters.com;))