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Financial News: ARGENTINA: Merval Falls On Argentinean ADRs

ARGENTINA: Merval Falls On Argentinean ADRs

08/22/2017 - 20:13:00 (RTTNews)

(RTTNews) - Merval, the benchmark index of the Buenos Aires Stock Exchange, resumed its operations after a holiday break tracking Monday's fall in American Depositary Receipt (ADRs) of Argentinean companies traded in Wall Street. Merval fell 0.29% Tuesday, closing at 22,900.18 points.

Meanwhile, Telecom Argentina lost 1.38% on the day that announced that it would issue new shares on the effective date of merger with Cablevisión. Tenaris fell 1.18% on the day it was known that Brazilian Usiminas shipped, at the beginning of the week, about 16 thousand tons of coils and thick plates for the Tenaris SIAT plant, of the Ternium-Techint group, in the country.

The locally traded US dollar, meanwhile, fell 0.35%, closing at 17.21 Argentinean pesos amid a low volume trade.

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