Merval, the main index of the Buenos Aires Stock Exchange, rose 1.73% to settle at 25,005.88 points Friday, breaking a new historical record by closing above 25,000 points. In the week, the Merval climbed 5.40%. In addition to the good indicators known in recent days, today's rise was driven by a successful share offering made by Mirgor, which ended up skyrocketing 13.96%. The shares of Macro (+4.86%), Comercial del Plata (+3.59%), Galicia (+3.14%), Petrolera Pampa (+2.72%), and TGN (+2.57%) also rose, while Central Puerto (-2.04%), Distribuidora de Gas (-1.63%), and Autopistas del Sol (-1.61%) fell. The locally traded U.S. dollar, meanwhile, rose 0.17%, closing at 17.30 pesos, completing a good recovery week after four weeks falling. "With the upward movement experienced this week, the greenback returned to the level of August," said Gustavo Quintana, an analyst at PR Corredores de Cambio.
VENEZUELA: Constituent Assembly Calls Up Anti-imperialist Front Against U.S.
The Venezuelan government will analyze the creation of an anti-imperialist Patriotic Front following the threats and sanctions applied by the United States government, said the second vice-president of the National Constituent Assembly (ANC), Isa?as Rodr?guez. "It is necessary to create this organization, with no specific colors, parties or individualities, because it is to defend the nation from this attack against our people by the far-right wing," said Rodr?guez, quoted by the Venezuelan News Agency. According to the United States ambassador to the United Nations, Nikki Haley, the U.S. government maintains "all options on the table to restore democracy in Venezuela" and has the "backing of countries in the region." Amid a series of sanctions against the Venezuelan government members, including the President Nicol?s Maduro, U.S. President Donald Trump threatened military action against the South American country to "restore democracy."
Malaysia Shares Likely To Remain Rangebound
Ahead of the long holiday weekend, the Malaysia stock market has finished lower in four straight sessions, surrendering almost 15 points or 0.8 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,770-point plateau and it figures to remain in that neighborhood on Monday. The global forecast for the Asian markets is cloudy, with little movement expected as firm crude oil prices figure to prevent too much damage. The European and U.S. markets were mixed and little changed on Friday and the Asian markets are expected to follow that lead. The KLCI finished slightly lower on Thursday as losses from the plantation stocks were mitigated by support from the financial sector. For the day, the index slid 2.54 points or 0.2 percent to finish at 1,771.04 after trading between 1,770.70 and 1,776.31. Volume was 3.25 billion shares worth 2.41 billion ringgit. There were 473 decliners and 385 gainers, with 392 stocks finishing unchanged. Among the actives, RHB Capital spiked 2.52 percent, while Genting Malaysia skidded 1.58 percent, AMMB Holdings tumbled 1.32 percent, Axiata Group climbed 0.99 percent, IOI Corporation shed 0.65 percent, CIMB Group collected 0.63 percent, IHH Healthcare lost 0.51 percent, Tenaga Nasional fell 0.41 percent, Petronas Chemical added 0.14 percent and Sime Darby and Maybank were unchanged. The lead from Wall Street is uninspired as stocks were lackluster on Friday, hovering near the unchanged line before ending mixed. The Dow shed 9.64 points or 0.04 percent to 22.349.59, while the NASDAQ added 4.23 points or 0.07 percent to 6,426.92 and the S&P gained 1.62 points or 0.06 percent to 2,502.22. For the week, the NASDAQ eased 0.3 percent, the Dow rose 0.4 percent and the S&P added 0.1 percent. The choppy trading reflected geopolitical concerns amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. Also, North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean. Crude oil prices inched higher Friday, preserving weekly gains as OPEC met in Vienna to discuss output cuts. November oil rose 11 cents to $50.66 a barrel for a weekly gain over 0.4 percent.
ARGENTINA: Country Wants To Consolidate And Diversify Exports To India
Argentina's ties with India are "a priority" and Buenos Aires intends to consolidate and diversify its exports to the Asian country, said the Argentinean Foreign Minister Jorge Faurie at a bilateral meeting with its Indian counterpart, Sushma Swaraj, at the sidelines of the 72nd General Assembly of the United Nations. At the meeting, both foreign ministers agreed that the Indian ties with Argentina and the Mercosur are "well below its potential". Faurie and Swaraj noted that both governments have interest in increase reciprocal trade, according to the statement released by the Argentinean Foreign Ministry. Currently, India is Argentina's sixth largest export destination.
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