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: 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)