--Merval slides 2.85% on renewed concerns about Spain, EU
--Minimal trading in stocks, bonds
--Black market peso little changed
By Taos Turner
BUENOS AIRES--Argentine stocks slid sharply Wednesday in minimal
trading on renewed concerns about Spain's ongoing economic
problems.
The Merval fell 2.85% to 2461.01 in volume totaling ARS31.6
million ($6.75 million).
"With Spain's burden growing heavier..., global markets extended
their cautious tone and that had a disparate impact on local
assets," the brokerage Estudio Ber said in its daily market
commentary.
Banks did poorly; Banco Macro (BMA.BA, BMA) led the declines,
falling 5.7% to ARS9.10. Banco Frances (FRAN.BA) fell 4.3% to
ARS8.80 and Grupo Financiero Galicia SA (GGAL.BA, GGAL) slipped
3.5% to ARS3.57.
The state-run oil and gas company, YPF SA (YPFD.BA, YPF), fell
4.88% to ARS81.8. The steel producer Tenaris SA (TS, TEN.MI) was
unchanged at ARS130.
Bonds were mixed. The TVPP GDP warrant rose 3.32% to ARS14.98.
The TVPY and the TVPA fell 0.36% to close at ARS82.95.
The peso closed at ARS4.688 to the U.S. dollar on the MAE
foreign-exchange wholesale market, compared with ARS4.684 in the
previous session. The dollar traded for between ARS6.33 and ARS6.37
in the black market, little changed from the previous session,
according to the newspaper El Cronista.
Write to Taos Turner at taos.turner@dowjones.com