Argentine stocks take breather, bonds in 4th rise
BUENOS AIRES Aug 24 (Reuters) - Argentina's stock, currency and bond market trends on Monday.
* The MerVal stocks index .MERV slumped 0.91 percent to 1,780.93 points as investors took a breather after the bourse rose last week following optimism over a $2.3 billion government debt swap plan and signs of global economic recovery.
* Although bank stocks continued to rise as the debt swap is expected to improve their balance sheets, the index was dragged down by a 2.6 percent fall in heavyweight Tenaris TENA.BA, the value leader for the day, which ended at 57.2 pesos per share.
* Tenaris, a global leader in seamless steel pipes for the oil industry, usually moves with oil prices but on Monday fell despite a rise in crude, as investors took profits after gains in the stock price last week.
* On the broad market, stocks volume was moderate at $17 million. Of active issues 37 advanced, 30 declined and 10 were unchanged.
* Prices for government bonds traded over-the-counter in Buenos Aires rose 0.5 percent on average, in a fourth consecutive session, reacting to last week's announcement that the government would swap 2014 bonds linked to a floating Central Bank reference rate for shorter-term bonds indexed to inflation.
* Bonar 11 paper denominated in dollars rose 2.46 percent to an ask price of 87.3.
* In formal exchange between banks the peso weakened 0.06 percent to end at 3.8500/3.8525 per dollar ARS=RASL.
* In informal trade between foreign exchange houses, as measured by Reuters, the peso firmed 0.26 percent to end at 3.8675/3.8725 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi, writing by Luis Andres Henao; Editing by Dan Grebler)
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