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Financial News: ARGENTINA: Merval Abandons Technical Rebound And Falls Aga

ARGENTINA: Merval Abandons Technical Rebound And Falls Again

11/19/2017 - 09:59:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, left an initial technical rebound to fall again (-0.49%) Friday, closing at 27,131.57 points. During the week, the Merval closed stable.

Jorge Juarez, an analyst at Mateo and Marchioni Sociedad de Bolsa, noted that Merval's opening rise was due only to a technical rebound and that prices are now adjusted again. In his assessment, the Merval should continue falling to the 24,000-points level through the next week.

The shares of Distribuidora (+2.89%), Tenaris (+2.03%), and Banco Francés (+1.96%) rose, while Banco Macro (-3.82%), Aluar (-3.19%), and TGS (-2.29%) fell.

The locally traded U.S. dollar closed stable at 17.48 Argentinean pesos, keeping the same trend throughout the session.

"Today's session showed a marked stability of the price of the dollar, which traded with a tiny fluctuation," said Gustavo Quintana, an analyst at PR Corredores.

On Monday, the Argentinean financial market will remain closed for a holiday.

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