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Financial News: ARGENTINA: Merval Rises Slightly Amidst Political Tension

ARGENTINA: Merval Rises Slightly Amidst Political Tension

12/18/2017 - 23:30:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 0.56% Monday to 27,174.16 points amid growing political tension related to the pension reform vote in the Argentinean House of Representatives.

The locally traded U.S. dollar rose 0.32%, closing at 17.57 Argentinean pesos, also due to the political tension.

Outside Argentina's Congress, a large demonstration against the reform was marred by clashes, and several protesters were arrested. Police sources said that cops injured eight people as a result of the incidents in Buenos Aires.

"The local stock exchange ended the session with a slight rise, pending what will be decided by the Congress regarding the pension reform," said Eduardo Fernández, an analyst at Rava Bursátil. "One of the most important features of the session was the low trading volume."

In the House's floor, after the fourth intermission of 20 minutes in the session, and amid the incidents that occur outside the Congress, the opposition asked several times for the suspension of Monday's session but did not get enough support.

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