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Financial News: ARGENTINA: Merval Rises 1.55% Boosted By Banking Sector

ARGENTINA: Merval Rises 1.55% Boosted By Banking Sector

08/23/2017 - 20:37:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 1.55% Wednesday, closing at 23,256.86 points, driven by banking stocks.

The shares of Agrometal (+5.12%), Galicia (+5.03%), Costanera (+5%), Banco Macro (+3.66%) and Banco Francés (+2,99%) rose, while Telecom (-3%), Gas Cuyana (-1.61%), San Miguel (-0.44%) fell.

Meanwhile, Pampa Energía climbed 1.47% after informing that its Board of Directors instructed managers to launch studies for an eventual merger with other Grupo Pampa's companies.

Aluar and Tenaris rose 1.27% and 0.32%, respectively, on a day in which was reported that the Argentinean Industrial Production Index grew 5.4% in July on a yearly comparison.

The locally traded U.S. dollar increased 0.11%, closing at 17.23 Argentinean pesos and repeated the low volume recorded yesterday, with banks and companies demanding the currency amid low liquidation by exporters.

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