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Financial News: ARGENTINA: Merval Rises Slightly Amid Low Volume Due

ARGENTINA: Merval Rises Slightly Amid Low Volume Due To U.S. Holiday

09/04/2017 - 22:02:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, closed with a slight increase (+0.28%), at 23,726.20 points Monday in a session marked by low volume due to the holiday in the United States.

The meeting went on "as if it were a local holiday," analysts said, in reference to the lack of ADRs trading in the United States due to the Labor Day holiday, and the absence of economic data releases.

The shares of Edenor (+2.76%), TGN (+2.73%), Holcim (+1.77%), and TGS (+1.76%) rose, while Mirgor (-1.71%), Banco Francés (-1.44%), Costanera (-1.36%), Autopistas del Sol (-1.23%), and Macro (-1.16%) fell.

The locally traded U.S. dollar fell 0.40%, at 17.23 Argentinean pesos, also amid low trading volume. "Today's holiday in the United States had a direct effect on trading volume, which declined significantly," said Gustavo Quintana, an analyst at ABC Mercado de Cambios.

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