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Financial News: ARGENTINA: Merval Rises To Record Level With A

ARGENTINA: Merval Rises To Record Level With A New Composition

10/02/2017 - 20:18:00 (RTTNews)

(RTTNews) - Merval, the benchmark index of the Buenos Aires Stock Exchange, closed the first day of October with a 1.04% rise Monday, at 26,350.75 points, remaining at its maximum levels amid a bullishness trend started two weeks ago.

Investors start the month with an eye on the legislative elections, scheduled for October 22, and the other on the central bank's Economic Expectations Survey. Also on Monday, the new Merval's constituents started being traded.

"Merval's composition is changing every quarter. To make the changes, we always take into account the volumes transacted by the papers in the last six months, as well as the number of transactions carried out in the same period," said Eduardo Fernández, an analyst at Rava Bursátil.

The papers that are included in Merval were Boldt S.A. and Phoenix Global Resources, while Consultatio comes out.

The shares of Transportadora de Gas del Norte (+6.74%), Endesa Costanera (+5.80%), and Minetti Juan (+4.50%) rose, while Mirgor (-1.73%), Comercial del Plata (-1.76%), and Central Puerto (-1.63%) fell.

Meanwhile, the locally traded U.S. dollar closed up 0.43%, at 17.40 Argentinean pesos, starting the month breaking the downward trend recorded at the end of the previous week and recovering ground while demanded by banks, companies and investors.

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