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Financial News: ARGENTINA: Stocks Rise Amid Positive Economic Data

ARGENTINA: Stocks Rise Amid Positive Economic Data

01/25/2018 - 19:39:00 (RTTNews)

(RTTNews) - Merval, the main index of the Argentinean stock exchange, rose 0.56% to 35,145.45 points Thursday, reversing an earlier profit-taking move after a 3% rise on Wednesday.

"This year we are seeing a notable increase in trading volumes compared to last year," said analysts from Portfolio Personal.

Data released Thursday also helped the Merval go higher. The International Monetary Fund kept unchanged its estimates for Argentina's economic growth in 2018 at 2.5%

Also, the Argentinean consumer confidence index rose 4.7% in January from a month before and 1.6% compared to a year earlier.

The locally traded U.S. dollar fell 0.60% to 19.56 pesos, after hitting new highs on Wednesday.

"The greenback is following an irregular and mixed trend, with sudden changes in a session dominated by the presence of public banks in the market," said Gustavo Quintana, from PR Corredores.

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