Argentina stocks dip from 10-month high, peso flat

viernes 24 de julio de 2009 18:35 ART
 

BUENOS AIRES, July 24 (Reuters) - Argentina's stock, currency and bond market trends on Friday:

* The MerVal stocks index .MERV fell 0.25 percent to 1,675.10 points as investors pocketed profits one day after the index hit a 10-month high.

* Shares of Banco Frances (FRA.BA: Cotización) dropped 2.65 percent to 5.5 pesos per share.

* Prices for government bonds traded over the counter in Buenos Aires fell 0.7 percent on average, the first drop this week.

* The peso-denominated Par bond was among the losers, falling 2.8 percent ARPARP=RASL to an ask price of 22.65.

* On the broader market, volume was $10.8 million. Among active issues, 47 advanced, 32 declined and 13 were unchanged.

* In formal trade between banks, the peso weakened just 0.07 percent to 3.8075/3.81 per dollar ARS=RASL as the central bank sold dollars early in the day to keep the local currency stable. Traders said safe-haven dollar-buying had slowed a little.

* In informal trade between foreign exchange houses as measured by Reuters, the peso ended flat at 3.88/3.885 per dollar ARSB=.