CLOSING BRIEFING: Argentina and Brazil stocks close higher

ARGENTINA Merval Index rallied 0.75% on Thursday, closing at 20,668.71 points and with most of its shares on the rise in the Buenos Aires Stock Exchange. According to Eduardo Fernández...

ARGENTINA Merval Index rallied 0.75% on Thursday, closing at 20,668.71 points and with most of its shares on the rise in the Buenos Aires Stock Exchange. According to Eduardo Fernández de Rava Bursátil, "thanks to the good recovery showed by Northern markets, leading stocks recovered after four days falling under a reduced business environment." He also indicated that Merval began to recover just after 3pm (local time), when April options expired. Meanwhile, the US dollar closed down 0.07% in Buenos Aires, at 15.38 pesos. BRAZIL Ibovespa closed the last trading session of the week in Brazil up 0.56%, at 63,760.62 points, reflecting a recovery in metal commodities that pushed Vale's shares higher. Banking sector stocks, however, prevented the index from gaining more. Ibovespa had a weekly rise of 1,49%, despite showing great volatility. Meanwhile, US Dollar ended 0.34% higher, at R$ 3.1590 for sale. During the day, US dollar oscillated between R$ 3.1340 and R$ 3.11710. COLOMBIA Colcap, the main index of the Colombian Stock Exchange, was almost unchanged, at 1,363.34 points, still pressured by low consumer confidence data reported yesterday and after Avianca airline shares descended 2.41%, amid news that the company will merge with Avianca Brazil - something the market already knew, but that it did not take well. Andrés Fonseca, an analyst with Alianza Valores, said that although the Consumer Confidence Index (ICC) data showed a slight recovery, it continues to be an unfavorable result for the Colombian economy. Spot dollar closed at 2,850.00 Colombian pesos, a 0.66% fall. Wilson Tovar, an analyst at Stocks & Stocks said that the US currency was influenced during the day by the rebound experienced by euro on the eve of presidential elections in France. Tovar pointed out that geopolitical risk continues to be a fundamental variable for the foreign exchange market. Translation by Ricardo Gozzi



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CLOSING BRIEFING: Argentina and Brazil stocks close higher

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