Argentina shares make gains

14 Mar, 2004

Argentine stocks rose 1.78 percent on Friday as investors regained confidence a day after bomb attacks in Madrid that killed nearly 200 people, traders said.
The MerVal leading share index closed up at 1,258.74 points. Trading volume was moderate at 90.2 million pesos ($30.8 million).
"We finished a good week when interest returned to stocks," said Leopoldo Olivari, a trader at Bacque brokerage.
Among leading blue chips, steel maker Acindar rose 2.76 percent.
Before the Madrid bombings, investors had been buoyed by news this week of Argentina's decision to make a $3.15 billion payment to the IMF and avoid a default.
The multilateral lending agency is likely to approve the second review of a $13.3 billion loan deal, which would keep aid flowing to Latin America's third-largest economy. Stocks were up 8.74 percent in the week and 6.39 percent in March.
In the currency market, Argentina's peso closed 0.17 percent weaker at 2.925/2.93 per dollar amid low volume.

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