AGL 39.12 Decreased By ▼ -0.88 (-2.2%)
AIRLINK 128.50 Decreased By ▼ -0.56 (-0.43%)
BOP 6.80 Increased By ▲ 0.05 (0.74%)
CNERGY 4.67 Increased By ▲ 0.18 (4.01%)
DCL 8.45 Decreased By ▼ -0.10 (-1.17%)
DFML 41.10 Increased By ▲ 0.28 (0.69%)
DGKC 82.31 Increased By ▲ 1.35 (1.67%)
FCCL 33.08 Increased By ▲ 0.31 (0.95%)
FFBL 73.50 Decreased By ▼ -0.93 (-1.25%)
FFL 11.84 Increased By ▲ 0.10 (0.85%)
HUBC 109.50 Decreased By ▼ -0.08 (-0.07%)
HUMNL 14.25 Increased By ▲ 0.50 (3.64%)
KEL 5.23 Decreased By ▼ -0.08 (-1.51%)
KOSM 7.63 Decreased By ▼ -0.09 (-1.17%)
MLCF 39.11 Increased By ▲ 0.51 (1.32%)
NBP 63.80 Increased By ▲ 0.29 (0.46%)
OGDC 192.70 Decreased By ▼ -1.99 (-1.02%)
PAEL 25.61 Decreased By ▼ -0.10 (-0.39%)
PIBTL 7.32 Decreased By ▼ -0.07 (-0.95%)
PPL 153.45 Decreased By ▼ -2.00 (-1.29%)
PRL 25.38 Decreased By ▼ -0.41 (-1.59%)
PTC 17.35 Decreased By ▼ -0.15 (-0.86%)
SEARL 78.25 Decreased By ▼ -0.40 (-0.51%)
TELE 7.66 Decreased By ▼ -0.20 (-2.54%)
TOMCL 33.40 Decreased By ▼ -0.33 (-0.98%)
TPLP 8.35 Decreased By ▼ -0.05 (-0.6%)
TREET 16.20 Decreased By ▼ -0.07 (-0.43%)
TRG 56.67 Decreased By ▼ -1.55 (-2.66%)
UNITY 27.50 Increased By ▲ 0.01 (0.04%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,485 Increased By 40.3 (0.39%)
BR30 31,031 Decreased By -158.5 (-0.51%)
KSE100 98,079 Increased By 280.7 (0.29%)
KSE30 30,592 Increased By 111.8 (0.37%)

Argentine stocks closed 10.24 percent higher on Friday, marking their biggest one-day jump since January 2002 as global markets rallied on optimism over a US financial rescue plan. The MerVal benchmark stocks index ended at 1,662.52 points, largely neutralising steep losses seen the rest of the week. "Obviously the plan to rescue the US financial system has brought some calm to investors," said Francisco Marra, a trader at Bull Markets Brokers.
"The MerVal is accompanying the world-wide gains." The US government unveiled a plan to pledge $50 billion to guarantee safe-haven, money-market mutual funds, and officials are working on a solution to take over hundreds of billions of dollars worth of bad mortgage debts.
Trade volume on Argentina's broad stock market was a brisk $50.6 million. Among active shares, 98 advanced, 10 retreated and six were unchanged. Meanwhile, locally traded sovereign debt rose by 4.5 percent on average in over-the-counter trade, with peso-denominated Discount bonds leading gains. The peso currency firmed against the dollar after weakening earlier in the week as the global economic doom saw savers and investors rush into greenbacks.
The peso closed just 0.08 percent stronger at 3.1150/3.1175 per dollar in formal interbank trade, where the central bank regularly intervenes. In informal trade between foreign exchange houses, as measured by Reuters, it firmed 1.27 percent to end at 3.1550/3.1600 per dollar.

Copyright Reuters, 2008

Comments

Comments are closed.