2018.03.0315:09:00UTC+00ARGENTINA: Merval Falls On Trump Remarks, Caution Before Quarterly Results

Merval, the main index of the Buenos Aires Stock Exchange, fell 0.30% to 31,914.72 points Friday, although recovering partially after falling by 2% earlier. The Argentinean shares were influenced by remarks by U.S. President Donald Trump on import duties on steel and aluminum imports, a move that will affect Argentina. In the week, the stock market lost 2.52%.

"Although the international context is now decisive, we are in the middle of the quarterly results season," said analysts at Cohen brokerage. Investors are waiting for YPF's, TGS'a, Pampa's, and Petrobras' results. "Favorable results may serve as mitigating to an unfavorable context or as fuel for higher rises in a favorable one," they said.

On the business side, Bolsas y Mercados Argentinos (BYMA +1.10%), a new stock exchange, reported a net profit of 1.12 billion pesos in 2017.

Meanwhile, the locally traded U.S. dollar closed with a rise of 0.68%, quoted at 20.29 Argentinean pesos amid higher demand.