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Financial News: ARGENTINA: Merval Falls After Rising In Eight Straight

ARGENTINA: Merval Falls After Rising In Eight Straight Sessions

05/21/2018 - 18:35:00 (RTTNews)

(RTTNews) - After rising in eight consecutive sessions, Merval, the benchmark stock market index in Argentina, ended 0.74% lower Monday at 31.632 points, hit by profit-taking, with all of the index constituents posting price losses.

According to Eduardo Fernandez from Rava Bursatil, the trading volume was low, declining about 42% from last Friday.

PGR (6.94%), Agrometal (5.90%) and Telecom Argentina (1.10%) had the best performances, while Metrogas (-4.50%), Holcim (-2.56%) and Central Puerto (-2.44%) ended lower.

The locally traded US dollar fell 0.16%, to 24.38 pesos, in one more day of no central bank intervention. According to Fernando Izzo, from ABC Mercado de Cambios, there was a little of dollar sales from grain exporters.

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