Argentine stocks hit by U.S. losses, bonds rise
BUENOS AIRES, June 16 (Reuters) - Argentina's stock, bond and currency market trends on Tuesday.
* The MerVal stocks index .MERV sank 4.12 percent to 1,586.23 points, tracking Wall Street's losses from both Tuesday and Monday, when Argentine markets were closed for a national holiday.
* Shares in Tenaris (TENA.BA: Cotización), which makes steel pipes for the energy industry and is weighted as almost half of the MerVal, shed 5.4 percent to 56.75 pesos per share.
* On the broad stock market, volume was modest at $14.6 million. Of active issues, 15 advanced, 51 declined and 11 were unchanged.
* Prices for government bonds traded over-the-counter in Buenos Aires gained 1 percent on average, rising for a fifth straight session after dipping initially.
* The 2033 Discount bonds denominated in pesos ARDISCP=RASL jumped 6.5 percent to an ask price of 65.70.
* In formal exchange between banks, the peso ended 0.07 percent weaker at 3.7650/3.7675 per dollar ARS=RASL, bringing losses since the start of the year to 8.3 percent.
* Traders said private demand for dollars has been steady as investors seek refuge in greenbacks before a June 28 mid-term vote, in typical pre-election behavior.
* Former President Nestor Kirchner, who is married to President Cristina Fernandez and is running for Congress, told state news agency Telam "there will be no devaluation" after the election, responding to remarks by opposition candidates.
* In informal trade between foreign exchange houses, as measured by Reuters, the peso firmed by 0.07 percent to 3.84/3.8425 ARSB=. (Reporting by Jorge Otaola; Writing by Hilary Burke; Editing by Dan Grebler)
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