Argentine stocks inch up, driven by Tenaris

viernes 27 de febrero de 2009 19:02 ARST

BUENOS AIRES Feb 27 (Reuters) - Argentina's stock, currency and bond market trends on Friday.

* MerVal stocks index .MERV rose 0.13 percent to 1,019.29 points, marking losses of 5.37 percent in February.

* Shares of market heavyweight Tenaris TENA.BA, a top global producer of steel pipes for the energy industry, rose 2.5 percent to 32.85 pesos amid bargain-hunting after shares were pounded on Thursday by a disappointing earnings report.

* On the broad market volume was a modest $13.9 million. Of active issues, 10 advanced, 32 declined and 11 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires fell 0.6 percent on average, extending losses this month to around 10 percent.

* Dollar-denominated 2038 "Par" bonds ARPARD=RASL slumped 2.2 percent to an ask price of 19.80.

* In formal exchange between banks the peso edged 0.21 percent lower to 3.565/3.5675 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso firmed 0.21 percent to end at 3.635/3.64 ARSB=. (Reporting by Walter Bianchi and Jorge Otaola; Editing by Dan Grebler)