Argentine stocks rally, bargain hunting lifts bonds
BUENOS AIRES, March 26 (Reuters) - Argentina's stock, currency and bond market trends on Thursday.
* MerVal stocks index .MERV closed up 3.45 percent at 1,171.43 points, in line with other global stock markets.
* Shares in energy group Pampa Energia PAM.BA rose 9.29 percent to end at 1 peso per share.
* "The MerVal joined the euphoric mood in international markets with a rise that spread through many sectors," said Horacio Corneille, who runs a brokerage that bears his name.
* On the broad market, volume was a modest $17.2 million. Of active issues 53 advanced, 8 declined and 11 were unchanged.
* Argentine bonds rose, breaking a three-session run of losses on bargain-hunting by investment funds. Locally traded debt averaged a gain of 1.4 percent.
* The peso-denominated Par bond ARPARP=RASL rose 4.8 percent, according to the ask price.
* In formal exchange between banks, the peso weakened 0.2 percent to end at 3.695/3.6975 per dollar ARS=RASL despite central bank intervention, traders said.
* In informal trade between foreign exchange houses, as measured by Reuters, the peso depreciated by 0.59 percent to 3.7825/3.7875 ARSB=. (Reporting by Walter Bianchi and Jorge Otaola; Writing by Helen Popper; Editing by Dan Grebler)
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