Interact with Argentina: Massa orders immediate spending limits in first step

Some local markets nonetheless appeared encouraged by the latest developments. Argentine stocks and bonds, as well as the peso currency, edged higher on Thursday, led by the Merval stock index, which rose by as much as 1.1% in the session before closing essentially flat. Meanwhile, the parallel black market peso gained 1.7% to trade at 293 per U.S. dollar, while over-the-counter sovereign bonds rose 0.8%.