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Financial News: ARGENTINA: Merval Rises In Volatile Wheel Due To

ARGENTINA: Merval Rises In Volatile Wheel Due To Economic Growth

09/27/2017 - 19:44:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 0.46% Wednesday, closing at 25,283.34 points. The index remained at record closing levels after a volatile session marked by some profit-taking.

Jorge Suárez, an analyst at Mateo y Marchioni Sociedad de Bolsa S.A. explained that at midday some stocks fell after a bullish rally, amid signs of exhaustion. However, reports that the Argentinean economy grew by 4.9% in July on an annual basis, the highest increase since June 2015 reversed the trend and led Merval to its ninth consecutive rise.

Mirgor climbed 6.86%, while Comercial del Plata gained 5.84%. Central Puerto rose 3.96% after announcing that it plans to offer shares in the U.S. market, and YPF increased 2.86%.

Meanwhile, the locally traded U.S. dollar declined 0.11%, closing at 17.56 Argentinean pesos due to adjusted positions and a renewed offer by banks and investors near the end of the month.

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