Argentine stocks, bonds rise on debt swap

miércoles 2 de septiembre de 2009 18:01 ART
 

BUENOS AIRES, Sept 2 (Reuters) - Argentina's stock, currency and bond market trends on Wednesday.

* MerVal stocks index .MERV rose 0.57 percent to 1,753.66 points as banking shares rose after the government announced it will launch the second phase of a $2.14 billion debt swap to extend maturities.

* Buenos Aires-listed shares of Brazilian energy heavyweight Petrobras APBR.BA also rose 3.0 percent to 78.60 pesos per share, leading gainers as investors bet a recent rally will continue.

* On the broad market, stocks volume was low at $12.98 million. Of active issues, 31 advanced, 29 declined and 17 were unchanged.

* Leading Argentine banking conglomerate Grupo Financiero Galicia GFG.BA climbed 1.35 percent to end at 1.5 pesos. Argentine banks are big holders of government debt and their share prices are often impacted by gains in bond prices.

* Prices for government bonds traded over-the-counter in Buenos Aires rose 0.5 percent on optimism over the second phase of the government debt swap.

* The dollar-denominated Bonar 13 ARBONAR13D=RASL rose 1.5 percent to end at 72.10.

* In formal exchange between banks the peso stayed flat to close at 3.8450/3.8475 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso weakened slightly 0.19 percent to end at 3.8550/3.8600 ARSB=. (Reporting by Jorge Otaola, writing by Luis Andres Henao; Editing by Dan Grebler)