Argentine stocks strengthen on rise in oil prices

miércoles 5 de agosto de 2009 18:18 ART
 

BUENOS AIRESAug 5 (Reuters) - Argentina's stock, currency and bond market trends on Wednesday.

* MerVal stocks index .MERV rose 1.58 percent to 1,806.51 points, boosted by higher oil prices, which lifted energy companies.

* Market heavyweight Tenaris (TENA.BA: Cotización), a global leader in steel products for the oil industry, gained 2.18 percent to close at 60.8 pesos per share.

* Among the biggest gainers was steelmaker Siderar (SID.BA: Cotización), which rose 2.96 percent to 15.650 pesos after reporting better-than-expected second-quarter results a day earlier.

* On the broad market stocks volume was moderate at $15.96 million. Of active issues, 48 advanced, 25 declined and 13 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires fell 0.2 percent on average as investors took profits after a rally following a key $2.25 billion payment on bonds on Monday.

* The 2038 peso-denominated Par bond ARPARP=RASL fell 3.6 percent to end at an ask price of 24.85.

* In formal exchange between banks the peso stayed flat at 3.8225/3.8250 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso strengthened slightly, up 0.13 percent to end at 3.8525/3.8575 ARSB=. (Reporting by Jorge Otaola, writing by Luis Andres Henao; Editing by Dan Grebler)