BUENOS AIRES (Dow Jones)–Argentina’s stocks closed lower Monday on declines in energy and financial shares, while benchmark bonds were mixed in uneven trading.
The benchmark Merval equity index fell 0.9%, to 2642.21, on volume of 50.1 million pesos ($11.5 million).
The Global X FTSE Argentina 20 ETF, which tracks shares of Argentine companies listed on international markets, lost 3.3%, to close at $10.93 in New York.
Agusto Farina, a trader at local brokerage Amirante Galitis, said rumors that the government might partially or totally nationalize oil and gas producer YPF SA (YPF, YPFD.BA) have weighed on investors’ sentiment toward Argentine equities since late January.
«Right now I don’t see that there is a carrot before the horse that is going to push the market higher,» said Farina, adding he doesn’t see many near-term catalysts to move the market higher or lower.
Shares of banking concern Grupo Financiero Galicia SA (GGAL, GGAL.BA) fell 0.3% to ARS3.30; YPF lost 3.1% to close at ARS129.40; electric energy holding Pampa Energia SA (PAM, PAMP.BA) fell 1% to ARS1.96; and steel maker Siderar SA (ERAR.BA) fell 0.6% to ARS1.79.
Among the few issues sporting gains, aluminium producer Aluar Aluminio Argentino SA (ALUA, ALUA.BA) rose 3.2% to ARS2.87.
Turnover on the local fixed-income market was ARS418 million, accounting for about 73% of the total volume of securities traded on the exchange during the session.
The Bonar X rose 0.5% in price terms to close at ARS443.75, yielding 7.30%. The 2033 Discount bond fell 0.4%, to ARS134.50, pushing yields up to 12.51%.
The Boden 2015 rose 0.3%, to ARS480.00, yielding 4.78%.
The 2035 peso-denominated GDP warrant fell 0.8%, to close at ARS13.20, while dollar GDP warrants rose 0.8% to ARS66.40.
The peso weakened to close at ARS4.3465 to the U.S. dollar on the MAE local foreign-exchange wholesale market, compared with ARS4.3425 at Friday’s close.
The central bank regularly intervenes in the foreign exchange market to buy dollars and to keep the peso on a slow path of depreciation against the U.S. dollar.
Puente brokerage said in its afternoon note that $367 million was traded on the local foreign-exchange market, with the central bank buying more than $100 million in dollars.
-By Ken Parks, Dow Jones Newswires; 54-11-4103-6740, ken.parks@dowjones.com
Source: http://online.wsj.com