Argentine stocks, bonds rise on debt swap
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: Cotización) 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: Cotización) 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)
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