ARGENTINA: Merval Closes Stable As US Holiday Drains Stock Market Liquidity – Markets Insider

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(RTTNews) – Merval, the main index of the Buenos Aires Stock Exchange, closed stable (+0.01%) Thursday at 27,331.49 points after a volatile session that lacked guidance from the United States stock markets – which remained closed due to the Thanksgiving holiday.

Marcos Forquera, an analyst at Buenos Aires Valores, noted the lack of volume due to the holiday.

The shares of the state-owned oil company YPF rose 1% after the company reported that it signed an agreement to transfer 100% of the exploitation concession over the Cerro Bandera area in Neuquén province.

Also, YPF reported that it signed an agreement with Alianza Petrolera Argentina – affiliate of Patagonia and PentaNova Energy Corp – transferring the company an 11% stake in the exploitation concession over the Llancanelo area, in the province of Mendoza, for US$ 40 million.

Meanwhile, the loans to the Argentinean private sector grew 4.2% in September over August, said the country’s central bank. That figure was seen as a consolidation of credit expansion to the private sector in the third quarter of 2017.

Also, while the Argentinean economy grew by 3.8% in September 2017 compared to the same month of the previous year – the slowest pace since June, the South American country’s trade balance recorded a US$ 955 million deficit in October, from a US$ 54 million deficit a year before.

Meanwhile, the locally traded U.S. dollar fell 0.48%, closing at 17.42 Argentinean pesos amid low volume.

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