Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Emerging Company Report TV Program -- Ignore unavailable to you. Want to Upgrade?

To: dbmedia who wrote (387)	8/22/2001 10:26:41 AM
From: dbmedia	Read Replies (1) \| Respond to of 526

Argentine Stocks Shoot Higher on IMF Deal BUENOS AIRES, Argentina (Reuters) - Argentine stocks shot sharply higher early on Wednesday as investors hoped fresh financing from the International Monetary Fund would ease the country's financial crisis. The benchmark MerVal (.MERV) stocks index was up over 5 percent within the first half-hour of trading after the IMF said late on Tuesday it planned to provide Argentina with $8 billion in new aid, soothing fears of a debt default. ``There's a lot of optimism. This deal is no panacea, but people are talking about buying shares at 10 percent above their levels at the open,'' said Eduardo Peressini, a trader for Martorell brokerage. Leading financial share Grupo Financiero Galicia headlined gainers, up 10 percent to $1.06. Argentina has been plagued for months by fears a long recession could lead it to devalue its currency or default on its $128 billion public debt.