Argentine stocks slide, bonds rally extended
BUENOS AIRES, July 28 (Reuters) - Argentina's stock, currency and bond market trends on Tuesday:
* The MerVal stocks index .MERV dropped 1.23 percent to 1,665.21 points, tracking losses in global markets, as investors pocketed profits in energy-related shares on a day oil prices fell.
* Buenos Aires-listed shares of Brazil's state-run energy company Petrobras APBR.BA sunk 2.51 percent to 70.5 pesos per share, while Tenaris TENA.BA TS.N, which makes steel products for the oil industry, declined 1.97 percent to 54.75 pesos per share.
* Prices for government bonds traded over-the-counter in Buenos Aires rose 1.2 percent on average. Traders said investors are betting on bonds as a short-term safe haven.
* Bonds have been rising since last week, when the economy minister said he would seek to swap and buy back the inflation-indexed bonds that account for at least a third of the country's sovereign debt.
* The peso-denominated 2014 Boden bond was among the winners, rising 2.1 percent ARBODEN14=RASL to an ask price of 72.50.
* On the broader market, volume hit $12.1 million. Among active issues, 31 advanced, 37 declined and 12 were unchanged.
* In formal trade between banks, the peso fell 0.13 percent to 3.8125/3.815 per dollar ARS=RASL as the central bank intervened in markets to keep the local currency stable.
* In informal trade between foreign exchange houses as measured by Reuters, the peso rose 0.32 percent to close at 3.8575/3.8625 per dollar ARSB=. (Reporting by Walter Bianchi; Writing by Dana Ford; Editing by Kenneth Barry)
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