ARGENTINA: Merval Closes Below 21,000 Points Due To Danger Aversion

By | August 10, 2017

Merval, the main index of the Buenos Aires Stock market, fell 1.22% to 20,995.17 points Wednesday amidst care ahead of Sunday’s main legal elections.

YPF oil business closed steady after reporting the other day night an earnings of 272 million pesos in the second quarter of 2017, reversing the losses recorded in the very same period of 2016. The Group Financiero Galicia share fell 1.67% after the business provided a 33.5% boost in its net profit in the 2nd quarter.

TGN closed higher despite reporting a 50.23% decrease in its net revenue in the second quarter. San Miguel fell 2.60% after reporting bottom lines of 110 million pesos in the first half of 2017, and Holcim decreased 2.02% in spite of reporting a threefold increase in its 2nd quarter net profit, to 194.7 million.

The locally traded United States dollar ended with a small decrease of 0.12%, at 17.70 pesos, in the middle of successive interventions by the main bank on the foreign exchange market 4 days before the legal primaries. The federal government is attempting to prevent a possible electoral effect of an abrupt dollar appreciation.

The material has been provided by InstaForex Business – www.instaforex.com

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