Stimulus Package Lifts Argentine Stocks Higher

By THE ASSOCIATED PRESS
Published: December 4, 2008
Filed at 2:38 p.m. ET
SAO PAULO, Brazil (AP) -- Argentine stocks rose on the government's announcement of an economic stimulus package, while other Latin American markets were flat in midday trading Thursday.
Argentina's benchmark Merval increased 2 percent to 990 in late trading, while Brazil's Ibovespa index was nearly even at 35,284.
Mexico's IPC index was up 0.2 percent at 20,188 in midday trading.
Argentina's government announced plans Thursday to use billions of dollars of newly nationalized pension fund assets to grant low-cost loans to farmers, industry and automakers.
Meanwhile, Europe's stock markets closed modestly lower Thursday, despite hefty interest-rate cuts across the continent. Wall Street fell amid further grim corporate and economic news ahead of Friday's crucial U.S. jobs report for November.
Chile's IPSA index was flat in late trading at 2,302, and the Colombian IGBC index rose 0.6 percent to 7,423.