ARGENTINA: Merval Rises 2.13% As Oil Prices Push Higher

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, climbed 2.13% to a new record closing level of 32,762.66 points on Friday. The index was boosted by energy, oil companies, and banking stocks. In the week, the Merval gained 1.27%.

According to analysts, the Merval recovered what was lost in the two sessions marred by profit-taking, boosted by oil prices abroad, opening room to keep its upward trend.

The locally traded U.S. dollar fell 0.10%, closing at 18.69 Argentinean pesos in a volatile session.

"In another day with an irregular path, the North American currency could not sustain the level reached yesterday by the push in supply," said Gustavo Quintana, an analyst at PR Corredores. Also, he warned that on Monday the trading volume should be reduced by the impact of a holiday in the United States.

During the next week, investors should monitor the indicators on the cost of construction and wholesale prices in December.