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Argentina ADRs, ETF climb as Senate passes reform bill

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** 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


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