Argentine stocks closed higher on Wednesday, as bank shares rose, inspired by sharp gains in Brazil, Chile and Mexico. The MerVal index of 13 leading shares rose 0.84 percent to 1,641.4 points, accumulating a 0.25 percent rise in October, and a 6.36 percent gain in the year so far.
One of the day's biggest gainers was Banco Macro, up 2.82 percent to 6.92 pesos per share, followed by BBVA Banco Frances, which rose 2.46 percent to 7.9 pesos per share.
"The MerVal rise was a response linked to a very good international context," said Juan Diedrich, a trader with Capital Markets Argentina bourse in Buenos Aires. Volume was relatively robust at 79.7 million pesos ($25.5 million), well above the 47 million pesos on Tuesday.
Since Monday, more than half the weighting of the MerVal comes from three companies linked to the oil sector Brazil's state oil company Petrobras and its Argentine unit Petrobras Participaciones, and Tenaris, which makes steel tubes for the oil industry.
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