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Financial News: ARGENTINA: Merval Rises 2.35% Amid Optimism With Elections

ARGENTINA: Merval Rises 2.35% Amid Optimism With Elections

10/19/2017 - 20:37:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 2.35% Thursday, closing at 26,831.01 points, recovering from recent losses amid investor optimism for a possible triumph of the national government in Sunday's legislative elections.

On the side of the indicators, the head of the Central Bank, Federico Sturzenegger, acknowledged that the efforts to contain price pressures in Argentina failed to bring inflation to the levels desired by the monetary authorities.

Mirgor stocks rose the most today after reporting that formalized a Memorandum of Understanding with Samsung Electronics to jointly advance the installation and operation of commercial premises to be known as "Samsung Stores" in the country.

Besides Mirgor (+6.79%), Transener (+6.19%), Aluar (+6%), TGN (+5.90%), and Siderar (+5,57%) also rose, while San Miguel (-0.86%) fell.

The locally traded U.S. dollar rose 0.63%, closing at 17.46 Argentina pesos, on the expectation related to Sunday's legislative elections.

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