Merval index drops

The panel of leading stocks index fell 0.74 percent to 3,604.77 points.

However, it has climbed 2.1 percent so far in 2011.

The Bonar 2015 bond gained 0.6 percent; Pro13, 0.52 percent; whereas the peso-denominated Discount bond dropped 0.52 percent; GDP-warrant remained unchanged.

Argentina's country-risk meanwhile declined 1.26 percent to 478 basis points in the JP Morgan EMBI index.

The US currency traded for $4.01/$3.97 pesos, remains unchanged compared to the previous closing price in the main banks and foreign exchange houses in Buenos Aires downtown.

There were no trading activities at the Brazilian stock market due to São Paulo City anniversary.

The São Paulo Stock Exchange will resume operations on Wednesday.