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ARGENTINA: Merval Rises 4.75% On ADRs And Quarterly Balance Sheets

(Agencia CMA Latam) - Merval, the main index of the Buenos Aires Stock Exchange, closed up 4.75% at 31,576.28 points Wednesday, boosted by good corporate results while investors awaited the Argentinean central bank's monetary policy decision.

Also, the local stock exchange replicated the movements recorded by Argentinean the ADRs on Monday and Tuesday in the United States, while in Argentina they were on holiday, noted analysts at Personal Portfolio.

Meanwhile, in the fourth quarter of 2017, the bank BBVA Francés (+11.19%) reached a net profit of 1.421 billion pesos, recording a growth of 25.2% compared to the previous quarter and of 144% over the same quarter of 2016.

For its turn, Cresud (+4.30%) reported a result of the fourth quarter of 2017 of 9.9 billion pesos, a rise of 53.6% compared to the same period of 2016.

The locally traded U.S. dollar closed the first round of the week, after the holidays on Monday and Tuesday, with a decrease of 0.40%, at 19.90 Argentinean pesos, awaiting the monetary policy decision of the central bank, which kept the basic interest rate in the country at 27.25% per year.

by Agencia CMA Latam

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