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Financial News: ARGENTINA: Merval Gives Up Gains Amid Mixed Corporate

ARGENTINA: Merval Gives Up Gains Amid Mixed Corporate Results

11/09/2017 - 19:23:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, reversed earlier gains to close down (-0.48%) Thursday amid mixed corporate results by Argentinean companies.

Argentinean state-owned oil company YPF reported a 246 million Argentinean pesos (US$ 14.03 million) net profit in the third quarter of 2017, reversing the losses recorded in the third quarter of 2016, but posted an output drop. YPF's shares fell by 2.56%.

Transener (+2.67%) rose after reporting a consolidated net profit of 510.2 million Argentinean pesos, from a loss of 269.9 million in the same period of 2016.

The Grupo Financiero Galicia (+1,92%) reported a net profit of 2,217 million Argentinean pesos, 45.6% higher on an annual basis.

Banco Macro (-0.21%) reported a net result of 2,597.8 million Argentinean pesos for the third quarter of 2017, 59% above the gain obtained in the same quarter of 2016.

Meanwhile, the locally traded U.S. dollar reversed the slight rise it maintained until midday and fell 0.02%, to 17.51 Argentinean pesos, still reflecting the local central bank's decision to hike the interest rate earlier this week.

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