Argentinean stocks dip

Argentine stocks fell slightly on Friday after racking up record highs for four straight days and breaking through the 1,700 mark on the main index.
The MerVal index of 11 leading stocks eased 0.88 percent to close at 1694.83, for an accumulated gain in September of 7.2 percent and 23 percent since January 1.
Volume was a healthy 142 million pesos ($49 million). "This profit-taking was foreseeable because the MerVal was looking fatigued at the record highs," said Oscar Campos, trader at InterValores brokerage.
"The economic data is good, but if the market needs to make a bigger correction, it will," he added. The steelmakers were big winners on Friday and during the month of September, propelled by the good export outlook and the high price of oil.
Flat steel producer Siderar gained 6.5 percent to 30.90 pesos for a 16 percent increase this month, while Tenaris advanced 0.2 percent to 40.0 pesos to cap a 21 percent rise in September.