Argentine stocks, bonds rise on govt debt swap plan

viernes 21 de agosto de 2009 18:05 ART

BUENOS AIRESAug 21 (Reuters) - Argentina's stock, currency and bond market trends on Friday.

* MerVal stocks index .MERV rose 1.72 percent to 1,797.33 points as the government announced a debt swap plan to extend maturities and retire short-term, inflation-linked bonds. The MerVal also got a boost from U.S and European markets.

* Among the biggest movers was Banco Macro (BMA.BA: Cotización) which rose 6.9 percent to end at 7.61. Argentine Banks are seen benefiting from the debt swap because the new bonds the government will offer in the swap will boost bank balance sheets as they are no longer linked to inflation data, but to a floating interest rate.

* On the broad market, stocks volume was moderate at $14.69 million. Of active issues, 52 advanced, 23 declined and 5 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires rose 3.6 percent on average after the government announced the plan to launch the first part of the debt swap next week, for 9 billion pesos.

* The peso-denominated Boden 2014 ARBODEN14=RASL jumped 5.4 percent to end at 85.40.

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

* In informal trade between foreign exchange houses, as measured by Reuters, the peso firmed 0.06 percent to end at 3.8775/3.8825 ARSB=. (Reporting by Walter Bianchi, writing by Luis Andres Henao; Editing by Dan Grebler)