Key Facts
Merval dropped 1.77% to 2,947,349 points on Friday, losing the psychologically important 3 million level it had only just captured.
Banks drove the decline with Banco Macro down 3.8% and Grupo Galicia off 3.5%, as investors took profits on the recent financial-sector rally.
The peso actually strengthened slightly with USD/ARS easing 0.28% to 1,488, sitting about 0.8% below its 52-week high of 1,500.
YPF managed a rare gain rising 0.6% on $11 million of turnover, the session’s most traded domestic name.
