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Financial News: ARGENTINA: Merval Falls 1.91%, Tracking ADRs

ARGENTINA: Merval Falls 1.91%, Tracking ADRs

10/17/2017 - 19:20:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, tumbled 1.91% Tuesday, closing at 26,622.40 points in the first trading session of the week after a holiday in Argentina.

Local papers tracked the losses posted Monday by the ADRs of Argentinean companies traded on Wall Street in the days previous to an election in which the market takes for granted the triumph of the President Mauricio Macri political group.

The main candidates are in the final stretch of their campaigns. On Monday, Cristina Kirchner led a crowded rally in the Racing Club stadium, while Macri took part in an act with its allies in Ferro.

The shares of Galicia (+0.26%) and Petrobras (+0.11%) rose, while Pampa (-4.89%), Costanera (-4.24%), Agrometal (-3.51%), Comercial del Plata (-3.38%), and Petrolera Pampa (-3.38%) fell.

The locally traded U.S dollar closed down 0.08%, at 17.33 Argentinean pesos, reversing an early rise, also under pressure of the electoral week.

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