Argentine assets hurt by global downturn

martes 16 de septiembre de 2008 13:43 ART
 

BUENOS AIRES, Sept 16 (Reuters) - Argentine stocks, bonds and the peso currency fell in midday trade on Tuesday, as concerns about further fallout from financial turbulence in the United States affected markets worldwide.

The benchmark MerVal stock index .MERV traded roughly flat after losing ground earlier in the session and shedding 5.18 percent on Monday.

Greater risk aversion hit the local debt market, with Argentine bonds <AR/BONOS> down about 2.7 percent on average in local, over-the-counter trade.

Leading losses was the Discount bond denominated in dollars ARDISCD=RASL, due to mature in 2033, which slid 9.14 percent according to the bid price.

The peso slumped to its weakest level since late May as investors sold off their holdings to get liquid, traders said.

In formal trade between banks, where the central bank normally buys or sells dollars to keep the local currency steady, the peso was down 0.32 percent at 3.0950/3.0975 per dollar ARS=RASL.

In informal trade between foreign exchange houses, as measured by Reuters, it traded 0.40 percent weaker at 3.1525/3.1575 per dollar ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Hilary Burke; Editing by Leslie Adler)