Argentine stocks, bonds rise on debt swap optimism

jueves 20 de agosto de 2009 18:08 ART

BUENOS AIRES Aug 20 (Reuters) - Argentina's stock, currency and bond market trends on Thursday.

* MerVal stocks index .MERV rose 2.23 percent to 1,766.89 points due to investor optimism over a government debt swap plan and an equity rebound in China.

* Among the biggest gainers was Banco Macro (BMA.BA: Cotización), which rose 8.7 percent to end at 7.12 pesos per share. Argentine banks hold large quantities of government bonds, meaning their stock rises when debt prices climb.

* On the broad market stocks volume was moderate at $16.4 million. Of active issues 45 advanced, 19 declined and 12 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires rose 1.4 percent due to optimism over a government plan to exchange inflation-indexed bonds in the coming weeks for others that will pay the local Badlar rateBCRA18 "plus a few points."

* The dollar-denominated Disc 2033 ARDISCD=RASL rose 2.6 percent to an ask price of 63.00.

* In formal exchange between banks the peso stayed flat at 3.8475/3.8500 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso weakened slightly by 0.06 percent to end at 3.88/3.885 ARSB=. (Reporting by Walter Bianchi, writing by Luis Andres Henao; Editing by Leslie Adler)