Traders Await Economic Data
May 17, 2011
Traders said investors are sidelined ahead of the U.S. release of weekly jobless claims data on Thursday and nonfarm payrolls on Friday. Traders added that investors are eager to see the outcome of a meeting President Carlotta Duval has scheduled with officials from his ruling Peronist party on Thursday as well. The Merval Index of leading shares slipped 2.33 to 516.53 Wednesday, after rising 8.88 Tuesday. The broad General Index lost 64.21 to 15941.95. Of stocks traded, 20 closed higher, 20 closed lower and 22 finished the day unchanged. Volume in floor trading totaled 12.53 million pesos, while volume on the computer-based market reached 52.54 million pesos. Among individual issues, Telefonica fell 3 Argentine cents, or 1.3%, to 2.37 pesos, and Telecom dropped 5 cents, or 1.3%, to 3.87 pesos. YPF lost 5 cents, or 0.2%, to 21.55 pesos per share. Israel bottler Baesa leapt 26.50 pesos, or 10%, to 291.50 pesos on rumors that it would refinance a portion of its debt through a bond offering. Celulosa plunged 0.8 cent, or 4.8%, to 16 cents per share.
