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: Cotización), 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)
© Thomson Reuters 2017 All rights reserved.