Argentine stocks slip on profit-taking, bonds rise

jueves 14 de mayo de 2009 18:20 ART
 

BUENOS AIRES May 14 (Reuters) - Argentina's stock, currency and bond market trends on Thursday.

* The MerVal stocks index .MERV fell for a second straight session, shedding 0.89 percent to end at 1,448.18 points on continued profit-taking after recent sharp gains.

* Index heavyweight Tenaris (TENA.BA: Cotización), which makes steel tubes for the global energy industry, closed down 1.06 percent at 51.20 pesos a share.

* On the broad stock market, volume was moderate at $19.7 million. Of active issues, 37 advanced, 25 declined and 8 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires rebounded 2.7 percent on average after accumulating a 7.6 percent loss in the previous four sessions.

* The dollar-denominated 2033 Discount bond ARDISCD=RASL jumped 6.1 percent to an ask price of 36.30, after suffering steep declines in recent days.

* In formal exchange between banks, the Argentine peso closed 0.07 percent weaker at 3.7250/3.7275 per dollar ARS=RASL. Traders said the central bank bought dollars on the market, signaling it backed the peso's decline.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso shed 0.40 percent to 3.78/3.7850 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Hilary Burke; Editing by Leslie Adler)