2017.09.2522:22:00UTC+00ARGENTINA: Merval Rises 0.24%, Cutting Gains In The End

Merval, the main index of the Buenos Aires Stock Exchange, rose 0.24% to close at 25,056.12 points Monday, cutting the gains posted earlier.

"The local market recorded its sixth consecutive rise, and the volume operated reached 669 million pesos," said Viviana Bonifati, an analyst at Intervalores.

Central Puerto rose 5.42% after reports that the company would be the winner of a tender to generate electricity from geothermal sources.

The shares of Mirgor (+6.61%), Central Puerto (+5.42%), Comercial del Plata (+4.62%), Petrobras Brasil (+1.81%), and San Miguel (+1.77%) also rose, while Petrolera Pampa (-2.44%), Agrometal (-2.23%), Distribuci?n de Gas Cuyana (-2.21%), and TGN (-2.14%) fell.

The locally traded U.S. dollar rose 1.29%, closing at 17.52 Argentinean pesos as genuine buying orders came from companies and banks, increasing foreign exchange operations by 7% comparing to Friday.