Argentinean stocks fall

Argentine stocks fell on Friday after hitting a record high in early trading as investors pocketed profits from recent gains. The benchmark MerVal index of 11 leading stocks slipped 1.25 percent to 1,592.68 points after hitting a record high of 1,612.94 points on Thursday.
On Thursday, the MerVal climbed to a record close pushed up by oil sector shares.
"The profit-taking was to be expected after the market hit historic highs," said Antonio Cejuela, a trader at the Puente Hermanos brokerage. "But it's healthy so the MerVal can continue to correct itself to around 1,575 points."
Banking group Banco Macro Bansud led the losers, falling 3.35 percent to 4.61 pesos while steelmaker Tenaris dipped 2.03 percent to 33.8 pesos.
Volume on the Buenos Aires exchange was a healthy 117.6 million pesos ($40.6 million).