ARGENTINA: Merval Rises 0.99% Boosted By Indicators

argentina: merval rises 0.99% boosted by indicators

Merval, the main index of the Buenos Aires Stock Exchange, rose 0.99% Thursday, closing at 24,576.96 points driven primarily by positive economic indicators.

According to the Argentinean statistics office, the provisional estimate for the country's Gross Domestic Product (GDP) in the second quarter of 2017 showed a 2.7% increase when compared to the same period of 2016.

Meanwhile, Argentina's unemployment rate fell by 0.5 percentage point (pp), to 8.7% of the economically active population, in the second quarter of the year when compared to the immediately previous quarter.

At the same time, the Consumer Confidence Index in Argentina increased by 7.2% in September compared to August, according to a survey conducted by Torcuato Di Tella University's Center for Research in Finance.

The shares of TGN (+3.66%), TGS (+3.62%), Transener (+3.31%), and Banco Macro (+3%) rose, while San Miguel (-2.08%), Central Puerto (-1.80%), and Consultatio (-1.63%) fell.

The locally traded U.S. dollar rose 0.43%, closing at 17.27 Argentinean pesos as demand from companies and banks pushed the currency's price all over the week.

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