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2018.02.2119:15:00UTC+00ARGENTINA: Merval Drops 1.33% As Investors Migrate To Fixed Income

Merval, the main index of the Buenos Aires Stock Exchange, fell 1.33% Tuesday, closing at 32,836.31 points, as traders took a breather after four consecutive rises and as some investors moved to fixed income assets betting on higher interest rates.

"As has been happening throughout February, the local market is still very aware of what is happening on Wall Street. Today the 10-year treasury bond rate rose again, affecting the rates of Argentinean bonds, "explained Eduardo Fern?ndez de Rava Burs?til.

Banco Macro (+3.09%) reported a net income for the fourth quarter of 2017 of 3.012 billion pesos, 78% above the profit obtained in the same quarter of the previous year.

The shares of Telecom (-5.18%), Costanera (-3.65%), Supervielle (-3.64%), and Siderar (-3.45%) closed down, while Cresud (+1.98%), Franc?s (+1.77%), and Banco Hipotecario (+1.67%) rose.

The locally traded U.S. dollar rose 0.45%, closing at 19.85 Argentinean pesos.

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