Argentina stocks rise along with crude, peso firms

jueves 19 de marzo de 2009 17:43 ART
 

BUENOS AIRES, March 19 (Reuters) - Argentina's stock, currency and bond market trends on Thursday.

* MerVal stocks index .MERV rose for a third straight session, gaining 1.23 percent to 1,078.77 points on higher crude oil prices.

* Locally traded shares of index heavyweight Tenaris (TENA.BA: Cotización), which makes steel pipes for the energy industry, jumped 3.8 percent to 37.15 pesos.

* On the broad market, volume was bigger than usual at a moderate $21.3 million. Of active issues 39 advanced, 31 declined and 11 were unchanged.

* Argentine bonds gained 1.4 percent on average in local over-the-counter trade after sinking for six straight sessions. Investors bought up bargains in trade that continued to be thin.

* The dollar-denominated 2014 Boden bond ARBODEN14D=RASL jumped 1.8 percent, according to the ask price.

* In formal exchange between banks, the peso strengthened 0.27 percent to 3.6450/3.65 per dollar ARS=RASL, with the central bank intervening in the market to prop up the local currency, traders said.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso firmed 0.07 percent to 3.74/3.7450 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Hilary Burke; Editing by Dan Grebler)