ARGENTINA: Merval Drops 5.73% Due To Collapse Of Central Puerto Shares

By | February 3, 2018

Merval, the main index of the Buenos Aires Stock Exchange, closed the last round of the week with a sharp fall (-5.73%), at 32,652.97 points Friday, driven by the collapse of the Central Port stock, which lost 16.76% in the day. Throughout the week, the stock market fell 7.04%.

Analysts noted that the fall of the Merval was since the positioning of Central Port’s debt on Wall Street was earned less than what was priced estimate in the local market.

Central Puerto (-16.76%) reported a final rate for its going public (IPO) in the United States of $ 1.65 per share, or $ 16.50 per ADS (American Depositary Share).

The value is below the initial variety reported by IFR, a service of Thomson Reuters, repaired in between 17.50 and 21.50 dollars per ADS.

The Argentinean state-owned oil business YPF (-4.23%), in association with Petronas E&P Argentina (PEPASA), reported that it prepares to move ahead with a project in the La Amarga Chica area, in the Province of Neuqu?n, in the Vaca Muerta field.

The locally traded U.S. dollar rises 0.61%, priced estimate at 19.50 Argentinean pesos, in an unstable day, rebounding from Thursday’s low.

“The worldwide climate helped to reverse the fall experienced by the dollar yesterday at the local level, stimulating the dollarization of portfolios,” stated Gustavo Quintana, an analyst at PR Corredores.

The material has actually been offered by InstaForex Company – www.instaforex.com

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