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Financial News: ARGENTINA: Merval Falls For The Sixth Consecutive Session

ARGENTINA: Merval Falls For The Sixth Consecutive Session

04/26/2018 - 20:29:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, closed lower for the sixth session in a row Thursday, affected by local factor while detaching from foreign markets. The Merval fell 1.53% to 29,487.82 points.

According to Eduardo Fernandez, an analyst at Rava Bursatil, "the regulation of the LEBAC tax and the Capital Market Legislation that continues to be postponed in Congress" were some of the bearish factors for Argentinean stocks.

The shares of Holcim (-6.83%), Transportadora de Gas del Norte (-6.20%), Valo (-6.04%) and Transener (-5.22%) fell sharply, while Petrobras (+5.77%), Tenaris (+2.39%) and YPF (+1.79%) rose.

The locally traded U.S. dollar closed with a rise of 1.47%, at 20.55 Argentinean pesos. The country's Central Bank once again intervened strongly in the FX market, after Wednesday's record sale, but failed to stop the greenback to rise.

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