Argentina's economic activity rose 0.2% year-on-year in May 2026, following an upwardly revised 1.7% increase in April. Eight of the fifteen sectors surveyed posted annual growth. The strongest performances came from mining and quarrying, which expanded 15.7%, followed by utilities (8.0%). Agriculture, livestock, hunting, and forestry also increased 4.6% from a year earlier. Meanwhile, seven sectors contracted. The sharpest decline was recorded in fishing, down 29.3%, followed by manufacturing (-5.6%) and wholesale and retail trade and repair services (-4.3%). On a monthly basis, the Monthly Economic Activity Estimate fell 0.5% from April.

Argentina Economic Activity Growth Slows

The Ibovespa rose 2.4% to close at 177,548 on Wednesday, supported by strong corporate earnings. Vale advanced 4% after reporting that iron ore production rose 0.8% year-on-year in the April-June period, marking its strongest second-quarter output since 2018. Bradesco BBI reiterated its Buy rating after the company's sales volumes exceeded expectations. WEG jumped 10% after reporting healthy operating margins and return on invested capital in the second quarter, despite lower year-on-year EBITDA and revenue. Revenue from international markets increased 14.7% in US dollar terms, although the company said the appreciation of the Brazilian real weighed on reported revenue in local currency. Petrobras rose 2.2% as oil prices climbed amid escalating tensions in the Middle East. On the trade front, a 25% US tariff on a range of Brazilian products took effect on Wednesday. However, key exports including beef, coffee, rare earths, energy products, aircraft, and aircraft parts remain exempt.

Ibovespa Rallies on Vale and WEG Results

The Dow Jones Index rose 25 points or 0.05 percent on Wednesday to close at 52250 points. Leading the gains are Nvidia (2.39%), J&J (2.04%) and Boeing (1.97%). Top losers were Salesforce (-4.02%), IBM (-2.15%) and Microsoft (-1.78%).

The Dow Jones Index Closes 0.05% Higher

The S&P/TSX Composite Index rose 0.3% to close at 35,485 after reaching a record high earlier in the session, as rising commodity prices supported mining and energy stocks. Miners advanced as gold edged higher on a softer US dollar and safe-haven demand amid escalating tensions between the US and Iran. Agnico Eagle gained 3.5%, Barrick added 2.8%, WPM rose 1.1%, and Franco-Nevada advanced 3.1%. Energy stocks also gained, tracking a jump in oil prices on mounting concerns over disruptions to Middle Eastern supply routes linked to escalating US-Iran hostilities. Canadian Natural added 1.8%, Imperial Oil gained 0.8%, while Suncor rose 1.5% and Cenovus advanced 0.6% ahead of its earnings report on Thursday. On the downside, technology stocks weakened ahead of earnings from US technology giants Alphabet and Tesla. Shopify shed 3.9%, Constellation Software fell 2.1%, and Celestica retreated 1.4%.

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News

Argentina Economic Activity Growth Slows

Ibovespa Rallies on Vale and WEG Results

The Dow Jones Index Closes 0.05% Higher

TSX Closes Higher on Commodity Stocks Rally