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Financial News: ARGENTINA: Merval Falls Due To Trade War Fears,

ARGENTINA: Merval Falls Due To Trade War Fears, But Rises In The Week

04/07/2018 - 15:19:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, closed the last round of the week with a 0.34% fall to 31,757.87 points Friday, affected by fears of a trade war between the United States and China. In the week, the Argentinean stock market gained 1.02%.

The U.S. Stock markets turned bearish after Donald Trump issued a statement instructing its trade officials to consider additional US$ 100 billion duties against China.

"As far as our local market was concerned, it felt the ups and downs of Wall Street," said Eduardo Fern?ndez de Rava Bursatil.

On the corporate side, the board of YPF approved the appointment of Daniel Gonzalez as CEO of the Argentinean state-owned oil company.

Meanwhile, the locally traded U.S. dollar fell 0.09% quoted at 20.18 Argentinean pesos, after a new intervention by the central bank.

"The central bank once again intervened with sales that justified today's decline," said Gustavo Quintana, an analyst at PR Corredores.

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