BUENOS AIRES (Dow Jones)–Argentine stocks closed slightly lower for a second consecutive day Thursday. The index was down 0.2% down at 2,819.99 points in volume totaling 48.8 million pesos ($11.3 million).
Telecom Argentina SA (TECO2.BA, TEO) led the gains, rising 3.4% to ARS19.65. It was followed by the oil and gas company YPF SA (YPFD.BA, YPF), which rose 2.6% to ARS175.50.
Power generation company Pampa Energia SA (PAMP.BA) rose 2.4% to ARS2.1.
Banco Macro (BMA.BA, BMA) led the declines, slipping 3.8% to ARS11.25. Aluminum producer Aluar Aluminio Argentino SAIC (ALUA.BA, AAARF) slid 3.3% to ARS2.92.
«I think the [local] market is going to stay volatile. There is a lot of economic data coming out in the U.S. next week that is going to influence us. Corporate earnings [in the U.S. ] are also going to be very important,» said Guillermo San Martin, an analyst at Bull Market Brokers.
The Global X FTSE Argentina 20 ETF, which tracks shares of Argentine companies listed on international markets, was up 0.4% at ARS11.33 in New York trading.
The price of the benchmark peso-denominated 2033 rose about 1% to ARS131.90, reducing its yield to 12.4%.
The peso closed at ARS4.3115 to the U.S. dollar on the MAE local foreign-exchange wholesale market versus ARS4.3125 in the previous session.
Last year the peso weakened 7.6% against the dollar.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com
Source: http://online.wsj.com