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Financial News: ARGENTINA: Merval Drops 0.39%, Falls 1.4% In The

ARGENTINA: Merval Drops 0.39%, Falls 1.4% In The Week

04/22/2018 - 16:38:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, fell 0.39%, closing at 31,157.79 points, tracking foreign markets. In the week, the Argentinean stock exchange dropped 1.4%.

"The local stock market still works without a definite trend," said Eduardo Fernandez, an analyst at Rava Burs?til. However, Fern?ndez stressed that the approval of the new Capital Markets Legislation in Congress is expected next week, as well as the beginning of the quarterly results season, which could bring good news for investors.

The shares of Metrogas (+4.61%), Agrometal (+1.55%), Cablevisi?n (+1.53%), and Holcim (+1.32%) closed higher, while Transportadora de Gas del Sur (-2.96%), Banco Macro (-2.13%), and Endesa Costanera (2.00%) dropped.

Meanwhile, the locally traded U.S. dollar rose 0.24%, quoted at 20.19 Argentinean pesos, rising again due to higher demand from banks and companies for the payment of their obligations.

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