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Financial News: ARGENTINA: Merval Rises 1.52%

ARGENTINA: Merval Rises 1.52%

12/21/2017 - 22:28:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 1.51% Thursday, closing at 28,494.01 points - close to exceeding the maximum of the year, by 28,500 points. The Argentinean stocks were driven by the approval of the pension and tax reforms passed this week in the House of Representatives.

Mauro Mazza, an analyst at Bull Market Brokers, said that the approval of the reforms was deemed positive by investors.

Meanwhile, the locally traded U.S. dollar closed up 0.98%, at 17.93 Argentinean pesos due to coverage demand and seasonality in the most important increase in three months.

"The dollar had its highest value of the year due to the push of coverage purchases that have brought it closer to $ 18," said Gustavo Quintana, an analyst at PR Corredores.

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