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Financial News: ARGENTINA: Merval Closes With Losses In The Week

ARGENTINA: Merval Closes With Losses In The Week And The Month

03/28/2018 - 19:04:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, closed the last trading day of the week and the month with a 0.40% loss at 31.108.86 points Wednesday, tracking the U.S. markets. The Merval ended the week with a loss of 1.33% and closed March with a 5.73% drop. In the quarter, however, the Merval rose 3.48%.

The stronger U.S. dollar abroad combined with the increase in U.S. crude inventories led oil prices to collapse. As a result, Petrobras stocks ended down 1.91%.

Other shares that recorded losses were Agrometal (-1.83%) and Consultatio (-1.72%). Meanwhile, Autopista del Sol (+ 3.71%) and Aluar (+ 3.03%) closed higher.

The locally traded U.S. dollar closed the last day of the week and month with a subtle drop of 0.09%, quoted at 20.14 Argentinean pesos, with the Central Bank of Argentina (BCRA) intervening to stop the rise of the currency in the local exchange market before the Easter holidays.

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