empty
 
 

2017.09.1919:34:00UTC+00ARGENTINA: Merval Rises 1.31% On Gas Shares

Merval, the main index of the Buenos Aires Stock Exchange, rose 1.31% Tuesday, closing at 24,228.19 points, tracking the gains by energy companies and gas distributors and in reference markets.

Viviana Bonifati, an analyst at Intervalores, indicated that the highlight was the good performance of the gas sector. In Santa Cruz, the provincial Assembly moved ahead with a memorandum of understanding between Argentina's state-owned YPF and the local government through which the province authorizes areduction in its royalties in exchange for an output increase in four oil areas.

The shares of Transener (+6.23%), TGS (+6.13%), TGN (+4.03%), Distribuidora de Gas (+3.42%), and Edenor (+2.91%) rose, while Agrometal (-2.62%), Costanera (-1.04%), and Comercial del Plata (-0.58%) fell.

The locally traded U.S. dollar rose 0.11%, closing at 17.14 Argentinean pesos demanded by banks and investors.

"When the foreign exchange market opened, the greenback began to be highly demanded by banks, companies and investors, rapidly increasing in value, due to purchases made by hedge funds in the U.S. currency," said Fernando Izzo, an analyst at ABC Mercado de Cambios.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback