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Financial News: ARGENTINA: Merval Sets New Record, Breaks 26,000-point Bar

ARGENTINA: Merval Sets New Record, Breaks 26,000-point Barrier

10/01/2017 - 16:57:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 1.88%, closing at 26,078.29 points Friday to set a fresh record closing high. This was the first time in which Merval settled above 26,000 points, and it was also the eleventh session in a row in which Merval closed higher.

On the last day of the month, the Argentinean market reflected the good economic momentum, encouraging investors in the energy and construction sectors. In the week, Merval rose 4.23%, while in the month it increased by 10.03%.

The shares of Central Puerto (+7%), Endesa Costanera (+6.54%), Petrolera Pampa (+4.16%), and Transportadora de Gas del Norte (+3.82%) posted the highest gains, while Mirgor fell by 1,93%.

Meanwhile, the locally traded U.S. dollar fell 0.85%, settling at 17.33 Argentinean pesos, recording its third consecutive drop.

"The pattern was given by the dollar, which today fell 17 due to the strong foreign exchange earnings," said Eduardo Fernández, an analyst at Rava Bursátil.

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