Argentine stocks slipped on Friday, dragged lower by a sell-off in international markets, traders said. The MerVal index of 12 leading shares finished 0.73 percent lower to close at 1,704.68 points after rising more than 0.70 percent earlier in the session. Volume was moderate at 63.9 million pesos ($20.6 million).
US stocks tumbled on Friday, falling 1.2 percent in their biggest one-day slide in a month, hit by investor worries over 3M Co's profit warning and a government report showing weaker job growth. Brazil's Bovespa also fell 1.18 percent, and Mexico's IPC stock index was off 1.09 percent.
On the MerVal, shares in entertainment and energy company Commercial del Plata dipped 2.01 percent to 0.33 pesos and heavyweight Tenaris, the world's biggest manufacturer of seamless pipes for the oil industry, slid 1.96 percent to 60 pesos.
The Argentine peso held steady to close at 3.0975/3.10 to the dollar, anchored by active intervention by the central bank, traders said. The bank has sought to keep the currency weak to boost exports. The peso has lost 1.61 percent since January 1.
Comments
Comments are closed.