Argentine bonds jump, peso strengthens on budget
BUENOS AIRES, Sept 16 (Reuters) - Argentina's stock, currency and bond market trends on Wednesday.
* Argentine bonds, stocks and peso all rose in mid-afternoon trade, boosted by economic forecasts in the 2010 federal budget, which were seen as largely reasonable and indicated the government might be trying to restore credibility to its outlooks and data.
* Bonds traded over the counter in Buenos Aires jumped for a fourth consecutive session, by an average 1.9 percent.
* The dollar-denominated Boden 14 ARBODEN14D=RASL soared 4.6 percent to an ask price of 28.45.
* The peso currency also strengthened slightly against the dollar, following a global trend of a weaker dollar, the positive sentiment over the budget forecasts, and demand for pesos in order to buy peso-denominated debt. The peso-denominated Disc ARDISCP=RASL bond advanced 3.1 percent to an ask price of 106.
* The peso strengthened by 0.07 percent to 3.8275/3.8300 per dollar in formal interbank trade ARS=RASL, its firmest level in more than a month.
* In trade between foreign exchange houses, as measured by Reuters, the peso was 0.13 percent firmer at 3.8350/3.8400 ARSB=.
* A market source told Reuters the Central Bank had purchased $180 million in dollars to keep the peso from strengthening further. The Central Bank keeps the peso from sharp fluctuations through a managed float.
* The MerVal benchmark stocks index .MERV jumped 2.4 percent to 1,977.13, its highest level since July last year. (Reporting by Walter Bianchi and Jorge Otaola, writing by Fiona Ortiz; Editing by Leslie Adler)
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