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Financial News: ARGENTINA: Merval Ends Slightly Higher As Caution Among

ARGENTINA: Merval Ends Slightly Higher As Caution Among Traders Limits Rise

08/30/2017 - 19:48:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 0.20% Wednesday, closing at 23,491.81 points, as traders turned cautious regarding the legislative elections of October after news that the former Argentinean President Cristina Kirchner's coalition was the winner in the primary elections held in Buenos Aires.

The Unidad Ciudadana's list, headed by Kirchner, overcame the ruling party Cambiemos by slightly more than 20,000 votes, or 0.21%, according to final figures issued by the federal court of La Plata.

Previously, the provisional results of the primaries held on August 13 for senators had shown a slight margin favorable to the ruling party. Now, investors attentions will be in the electoral campaign for the October vote.

The shares of Mirgor (+8.27%), Aluar (+3.49%), Gas Cuyana (+1.95%), Telecom (+1.88%), and Holcim (1.76%) rose, while Transener (-2.81%), TGS (-2.62%), and Petrobras (-2.62%) fell.

Oil sector shares ended lower, tracking crude prices abroad.

Meanwhile, the locally traded U.S. dollar closed steady, at 17.40 pesos, on a volatile session due to the end-of-month hedge operations.

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