FOREX TradingCharts.com

Financial News: ARGENTINA: Merval Drops 2.1% As Profit Taking Hits

ARGENTINA: Merval Drops 2.1% As Profit Taking Hits The Market

09/12/2017 - 20:32:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, fell 2.10% Tuesday and closing at 23,559.66 points as traders took profits after the index rose to a record high last Thursday.

"The stock market had risen a lot in the last few weeks, and a break was the most likely event in the short-term," said Eduardo Fernández, an analyst at Rava Bursátil.

All of Merval's constituents fell today. Transener (-4.89%), TGN (-4.43%), Cresud (-3.55%), and TGS (-3.22%) posted the worst declines.

Besides that, the central bank of Argentina kept its main interest rate unchanged at 26.25%, but removed from the monetary policy decision statement a sentence about its commitment to pursue the 2017 inflation target.

"The monetary authority considers appropriate to maintain its contractive bias and focus its efforts by the end of the year with inflation approaching 1% per month, so that it is consistent with the target for 2018, between 8% and 12%," the current statement said.

In the previous meeting report, however, the central bank noted that it would keep a clear contractive bias "to ensure that the disinflation process continues towards the 12% to 17% inflation target for 2017 and the 10% plus/less 2% [inflation target] for 2018."

Meanwhile, the locally traded U.S. dollar fell 0.46%, to 17.07 Argentinean pesos, amid a higher demand for the local currency for a tender of Letras del Tesoro (Letes) and Letters of the Central Bank (Lebac).

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


CHILE: August PPI Records Highest Monthly Increase Since November 2016 (12 min(s), 26 sec(s) ago)
(RTTNews) - Chile's Producer Price Index (IPP) accelerated 2.2% in August on a monthly basis, ...Full Story»

MEXICO: Consumer Prices Rise 0.34% In First Half Of September (28 min(s), 26 sec(s) ago)
(RTTNews) - Mexico's National Consumer Price Index (INPC) increased 0.34% in the first half of ...Full Story»

COLOMBIA: Crude Oil Production Up 0.25% In August On A Monthly Basis (37 min(s), 26 sec(s) ago)
(RTTNews) - The Colombian crude oil production during August reached 858,511 barrels per day on av ...Full Story»

Norges Bank Unlikely To Hike Rates In Near Future: Capital Economics (06 hr(s), 53 min(s), 26 sec(s) ago)
(RTTNews) - Norway's interest rate increases seem very far with inflation likely to remain bel ...Full Story»

Eurozone Private Sector Growth At 4-Month High (08 hr(s), 53 min(s), 26 sec(s) ago)
(RTTNews) - Eurozone's private sector expanded at the fastest pace in four months in September ...Full Story»

Russia CB Likely To Cut Rates Further On Lower Inflation Expectations (09 hr(s), 17 min(s), 26 sec(s) ago)
(RTTNews) - Russia's central bank is likely to cut interest rates in the near future amid lowe ...Full Story»

Brazil Business Confidence Improves Slightly (09 hr(s), 20 min(s), 26 sec(s) ago)
(RTTNews) - Brazil's business confidence improved for the third straight month in September, t ...Full Story»

Brazil Consumer Confidence Strengthens In September: FGV (09 hr(s), 34 min(s), 26 sec(s) ago)
(RTTNews) - Brazil's consumer confidence improved in September after weakening in the previous ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

CHILE: August PPI Records Highest Monthly Increase Since November 2016

09/24/2017 - 17:06 PM (RTTNews)
(RTTNews) - Chile's Producer Price Index (IPP) accelerated 2.2% in August on a monthly basis, ...Full Story>>

MEXICO: Consumer Prices Rise 0.34% In First Half Of September

09/24/2017 - 16:50 PM (RTTNews)
(RTTNews) - Mexico's National Consumer Price Index (INPC) increased 0.34% in the first half of ...Full Story>>

COLOMBIA: Crude Oil Production Up 0.25% In August On A Monthly Basis

09/24/2017 - 16:41 PM (RTTNews)
(RTTNews) - The Colombian crude oil production during August reached 858,511 barrels per day on av ...Full Story>>

Norges Bank Unlikely To Hike Rates In Near Future: Capital Economics

09/22/2017 - 10:25 AM (RTTNews)
(RTTNews) - Norway's interest rate increases seem very far with inflation likely to remain bel ...Full Story>>

Eurozone Private Sector Growth At 4-Month High

09/22/2017 - 08:25 AM (RTTNews)
(RTTNews) - Eurozone's private sector expanded at the fastest pace in four months in September ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.