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Financial News: ARGENTINA: Merval Declines Tracking Electricity Companies

ARGENTINA: Merval Declines Tracking Electricity Companies Shares

07/13/2017 - 20:26:00 (RTTNews)

(RTTNews) - Merval Index fell by 1.16%, at 21,968.79 points, pressured by the decrease in energy sector shares price, according to Martin Przybylski, Cohen's brokerage portfolio manager.

"El Cronista" newspaper said that the Argentinean government intends to charge electricity companies a US$ 1 billion debt.

As a result, shares of Pampa (-3.25%), Costanera (-2.87%), Distribuidora de Gas Cuyana (-2.78%), Central Port (-2.66%), Transener (-2.41%) Autopistas del Sol (-3.71%) and Holcim (-1.97%) posted the worst losses.

The locally traded US dollar closed stable, at 16.95 Argentinean pesos. Fernando Izzo, an analyst at ABC Mercado de Cambios, noted that the greenback remained stable despite a 40% rise in traded volume compared to Wednesday because banks made "currency swaps."

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