ARGENTINA: Merval Falls Amid Profit-taking Due To Risk Aversion

By | March 7, 2018

Merval, the main index of the Buenos Aires Stock Exchange, fell 0.17%, closing at 32,807.34 points Wednesday amid profit-taking due to lower risk appetite.

Analysts at Cohen brokerage noted that “the market is somewhat warm, rising slightly.”

The shares of Telecom (+2.76%), Grupo Concesionario del Oeste (+2.66%), and Boldt (+2.28%) rose, while Petrobras (-3.53%), Banco Franc?s (-2.26%), and Galicia (-1.76%) fell.

The locally traded U.S. dollar rose 0.34%, closing at 20.41 Argentinean pesos in a volatile session. According to Gustavo Quintana, an analyst at PR Corredores de Cambio, “Central Bank sales corrected at times the rise in the exchange rate and prevented it from exceeding the 20.43 level.”

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

Leave a Reply

Your email address will not be published. Required fields are marked *