Argentine stocks rebounded to close higher on Friday, buoyed by gains in Brazilian markets, traders said. The MerVal index of 12 leading stocks rose 1.29 percent to close at 1,593.11 points, finishing the week off 0.66 percent. The index has shed 6 percent in October but accumulated a 15.83 percent gain since January.
Volume was a robust 134.5 million pesos ($45.2 million).
Brazil's Bovespa index rose 2.93 percent on Friday, shaking off recent investors concerns over a possible hike in US interest rates to lift stocks in Argentina, traders said.
"External markets plus expectations over legislative elections this weekend helped the MerVal," said Oscar Campos, a trader at InterValores Sociedad de Bolsa.
The midterm congressional election on Sunday is expected to give a boost to President Nestor Kirchner, with polls showing several candidates backed by the leader likely to win.
Among the winners on the MerVal was textile manufacturer Alpargatas, which climbed 8.12 percent to close at 5.46 pesos on news it signed a contract to locally produce products for sporting goods maker Nike, Inc.
Leading telecommunications group Telecom also rose nearly 3 percent to 7.60 pesos.