Argentine stocks rebound with oil, but volume tepid

jueves 4 de junio de 2009 18:16 ART
 

BUENOS AIRES, June 4 (Reuters) - Argentina's stock, currency and bond market trends on Thursday.

* The MerVal stocks index .MERV jumped 3.34 percent to 1,654.56 points, led by gains in companies related to the oil industry, after plunging a day earlier.

* Market heavyweight Tenaris (TENA.BA: Cotización) (TS.N: Cotización), which produces steel tubes used in the oil industry, rose 4.3 percent to 60.95 pesos per share as oil prices hit a seven-month high on global markets. Tenaris is weighted as almost half of the MerVal index.

* On the broad market share volume was tepid at $12 million. Of active issues 44 advanced, 18 declined and 18 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires inched up 0.1 percent on average, as institutional investors held back, with their eye on slumping debt prices in the U.S.

* The 2033 Disc bond denominated in pesos ARDISCP=RASL rose 1.6 percent to an ask price of 60.4.

* In formal exchange between banks the peso strengthened by 0.07 percent to 3.7400/3.7425 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso slipped by 0.13 percent to end at 3.8050/3.8100 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Fiona Ortiz; Editing by Leslie Adler)