Argentine stock prices jumped 4.55 percent on Friday as investors went bargain hunting for blue chips like steelmaker Siderar after falls over the year, traders said.
The MerVal leading share index ended at 951.17 points. Volume was moderate at 55.9 million pesos ($18.8 million).
Siderar ended up 7.14 percent to 13.5 pesos.
A round of share options also expired on Thursday with little participation from investors, meaning that market players had more cash than expected.
"After the options had expired, the market freed up," said a trader, who asked not to be named. "And the economy is showing signs of growth." The government said the economy grew over 11 percent in the first quarter as it recovers from a 2002 crash. The MerVal is down some 11 percent since the beginning of the year. Worries over Argentina's debt restructuring and a possible rate rise in the United States have weighed heavily on Argentine stocks in recent weeks.
The local peso closed 0.17 percent weaker at 2.97/2.975 per dollar.
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