Buenos Aires, February 21, 2026, 06:06 GMT-3 — The session has ended; markets are now closed.
- The S&P Merval edged up 1.2% Friday, closing at 2,873,248 points.
- BYMA jumped 8.2% last session, outpacing most other index names.
- Focus turns to the Senate next, while traders brace as a batch of INDEC data drops over the coming week.
Buenos Aires’ S&P Merval index finished Friday at 2,873,248, up 1.2%. Markets will stay shut on Saturday. https://www.investing.com/indices/merv
Following a 4.26% jump the day before, the benchmark tacked on another gain, bringing its two-day climb to about 5.5%. Big swings have marked trading lately, as equities react to political news and the flow of hard currency. https://ca.finance.yahoo.com/quote/%5EMERV/history/
Congress is still in the spotlight. The lower house handed President Javier Milei a win, approving his labour reform bill with a 135-115 tally. Now, it’s back to the Senate for another vote. Portfolio Personal Inversiones called the proposed severance fund “a new domestic long-term savings player.” https://www.reuters.com/world/americas/argentinas-lower-house-passes-labor-reform-sends-senate-final-vote-2026-02-20/
The International Monetary Fund on this day pointed to Argentina’s more than $2 billion in foreign-currency purchases so far this year as a sign of improvement for the country’s still-fragile dollar reserves. IMF spokesperson Julie Kozack said the lender is “especially encouraged” by the changes Argentina has made to its monetary and FX policy. https://www.reuters.com/world/americas/imf-says-encouraged-by-argentinas-2-billion-in-forex-purchases-this-year-2026-02-19/
Argentina posted a $1.987 billion trade surplus in January, INDEC reported. Exports shot up 19.3% year-on-year, reaching $7.057 billion. Imports, on the other hand, dropped 11.9% to $5.070 billion. That’s now 26 straight months in the black for the trade balance, according to the agency. https://www.indec.gob.ar/uploads/informesdeprensa/ica_02_2625C336A71D.pdf
Financial names grabbed the spotlight Friday, with Bolsas y Mercados Argentinos (BYMA) leading gains, up 8.22%. Grupo Financiero Galicia tacked on 4.67% and BBVA Argentina advanced 2.81%. Shares of YPF slipped 0.58%. https://www.investing.com/indices/merv-components
BYMA closed at 326 pesos after ranging between 301.50 and 327.50. Over the past 52 weeks, shares have moved from 135.75 up to 351.75, according to Investing.com. It ended the session among the day’s strongest risers. https://www.investing.com/equities/bolsas-y-mercados-argentinos-sa
The S&P Merval, Argentina’s benchmark stock index, covers the country’s most heavily traded shares listed on the Bolsas y Mercados Argentinos exchange. Only the most liquid stocks are included. For investors, it’s a key signal of local risk appetite. https://www.spglobal.com/spdji/en/indices/equity/sp-merval-index/
Reform efforts are running into heavy resistance. In the lead-up to the vote, unions launched a 24-hour strike. Aerolineas Argentinas reported roughly 255 flights canceled and estimated losses hit $300 million, Reuters said. https://www.reuters.com/business/world-at-work/argentine-labor-reform-faces-key-vote-lower-house-unions-stage-nationwide-strike-2026-02-19/
Policy takes center stage now. The Senate is still locked in debate over when to schedule a pivotal labor vote, while a stack of data looms. INDEC will release January economic activity (EMAE) figures on Feb. 26, preceded by the wage index for January, out Feb. 25. https://www.indec.gob.ar/ftp/cuadros/publicaciones/calendario_1sem2026.pdf
With Monday’s Feb. 23 session approaching, traders at the Buenos Aires stock exchange are eyeing whether the rally can hang on—much depends on lawmakers, who could push back or tinker with the bill yet again. The measure still faces a final vote in the Senate before becoming law. https://apnews.com/article/f95f293bd7eefe3c00a4d3a0d7656a5c
