17.08.201718:53:00UTC+00ARGENTINA: Merval Falls 0.76% Amid Profit-taking

Merval, the main index of the Buenos Aires Stock Exchange, fell 0.76% Thursday, closing at 22,711.76 points, in a session marked by profit-taking after the euphoria with the primary elections results.

"The local market abandoned the positive trend of the last five wheels, leaving room for a logical profit-taking," said Oscar Campos, an analyst at Intervalores.

Cresud (+2,63%), Central Puerto (+2.60%), Telecom (+2.41%), Aluar (+1.73%), Edenor (+1.41%), Petrolera Pampa (+1.07%) rose, while Costanera (-3.40%), Transener (-3.01%) and Pampa (-3%) closed down.

The locally traded US dollar rose 0.87%, closing at 17.36 pesos, amid a higher demand for hedging.