BUENOS AIRES (Dow Jones)–Argentine stocks closed higher Tuesday in light trading while the peso was little changed against the U.S. dollar.
The Merval index rose 1.2% to 2,483.13 points in volume totaling ARS43.3 million ($10.2 million).
The auto parts and equipment maker Mirgor (MIRG.BA) led the gains, rising 3.7% to ARS92.2.
It was followed by the steel producer Siderar SA (SDDFF, ERAR.BA), which rose 3.4% to ARS22.50. Petrobras Argentina (PZE, PESA.BA) led the declines by falling 2.6% to ARS6.4.
Traders offered little explanation for the Merval’s performance, saying simply that stocks had rebounded.
The Global X FTSE Argentina 20 ETF, which tracks shares of Argentine companies listed on international markets, rose 0.55% to $10.80 in New York.
Bonds were mixed.
The price of the benchmark peso-denominated 2033 bond rose 1.2% to ARS114.90, yielding 14.2%.
The peso closed at ARS4.2589 on the MAE local foreign-exchange wholesale market, compared with ARS4.2585 in the previous session.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com
Source: http://online.wsj.com