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By: Jorge Otoala
Argentina's leading Merval stock index will grow to include 23 companies in the fourth quarter of 2016, up from 15 currently, the stock exchange Mercado de Valores de Buenos Aires said on Friday.
The index's composition is updated every three months based on which companies were most liquid in the prior quarter. It will be the first time since the fourth quarter of 2008 that the index will have more than 20 companies, the exchange said.
The increase will come as welcome news to investors looking for opportunities in Argentina after center-right President Mauricio Macri was elected late last year. While they cheered his market-friendly reforms, such as ending capital controls, many were turned off by how few companies the Merval had listed.
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