Argentine Stocks Rise on Speculation Country to Boost Reserves
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Argentina’s benchmark stock index rose the most in more than five months on speculation the central bank will announce a measure today that will help boost foreign reserves, shoring up the country’s finances and supporting economic expansion.
The Merval rose 5.4 percent at the close in Buenos Aires, the biggest increase since May 15. Grupo Galicia SA surged 10.7 percent, the best performer in the 13-member index, while Banco Macro SA rose 9.9 percent and YPF SA climbed 6.7 percent before reporting an 87 percent increase in profit in the third quarter.