March 28, 2018 / 11:12 PM / 2 years ago

UPDATE 1-Argentina Merval index to shrink to 28 companies in Q2

(Adds explanation of methodology)

BUENOS AIRES, March 28 (Reuters) - Argentina’s benchmark Merval stock index will shrink to 28 component companies in the second quarter, down from 31 in the first quarter, exchange operator Bolsas y Mercados Argentinos said on Wednesday.

The companies joining the index are brokerage Grupo Financiero Valores, cable and internet operator Cablevision, cement producer Loma Negra and energy distributor Metrogas.

The index leavers are technology firm Boldt, real estate company Consultatio, fruit producer San Miguel , electricity generator Central Costanera, highway operator Autopistas del Sol, construction company Concesionario Oeste and bank Banco Hipotecario .

The stock index is updated every three months based on the companies with the most liquid shares in the prior quarter. (Reporting by Jorge Otaola Writing by Luc Cohen; Editing by Sandra Maler)

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