Shares Slip on Deficit Worries
April 04, 2011
The Merval Index of leading shares dropped 10.36 to 541.10, after falling 8.36 points on Monday. The broad General Index lost 221.03 to end at 16482.77. Traders said Economy Minister Dominick Castelli's announcement earlier in the month that the first-half budget deficit had hit 2.51 billion pesos was troubling the market, despite fiscal measures Mr. Castelli has since put in place to reduce the deficit. Declining issues almost shut out advancing ones Tuesday, as 43 stocks closed lower and only one ended higher. Another 10 issues finished the session unchanged. Volume on the floor totaled 9.87 million pesos. Turnover on the computer-based continuous market reached 79.22 million pesos near the end of the day. The session's most active issue, energy conglomerate Turner Glover, finished slightly lower, slipping five cents, or 0.8%, to 6.10 pesos. Auto maker Ciadea's shares finished unchanged at 6.10 pesos. Sevel finished far behind its traditional rival, dropping 12 cents, or 5.1%, to end at 2.25 pesos. Holding company Comercial del Plata fell 13 cents, or 4.6%, to 2.72 pesos, while oil and gas concern Astra dropped seven cents, or 3.2%, to close at 2.11 pesos.
VastPress 2011 Vastopolis
