Auto Shares Spur Buying
March 31, 2011
The Merval Index of leading shares rose 8.52 to 559.82 after falling 0.97 a day earlier, while the broad General Index added 160.88 to 16891.09 after sliding 23.52 Thursday. Advancing issues outnumbered decliners 27 to 13, while 18 settled the session unchanged. Volume on the floor totaled a light 11.90 million pesos while volume on the computer-based continuous market reached 47.15 million pesos. Almost all the most active issues closed out the session in positive territory. Auto stocks were the big winners, with Ciadea jumping 25 Argentine cents to 6.25 pesos and Sevel rising 10 cents to 2.45 pesos. Perez Companc lagged the Merval. The energy conglomerate tacked on eight cents to 6.25 pesos, and YPF added 30 cents to 21.75 pesos. Astra was the leading performer in the oil and gas sector, gaining five cents to 2.24 pesos. Phone stocks underperformed. Telefonica added a cent to 2.47 pesos, while Telecom Argentina also moved up a cent to 3.98 pesos. A Telecom official declined to comment on a press report that the company plans to purchase 30% of a local data-transmission service.
VastPress 2011 Vastopolis
