Argentine peso hovers at seven-year low, stocks rise

jueves 30 de abril de 2009 18:12 ART
 

BUENOS AIRES, April 30 (Reuters) - Argentina's stock, currency and bond market trends on Thursday:

* The Argentine peso gained, but continued to hover at its lowest levels since 2002 on strong dollar demand from Argentines worried about an economic slowdown and political uncertainty.

* Traders said heavy central bank intervention helped the pesoARS=RASL rise 0.2 percent in formal trade between banks to 3.7125/3.715 per dollar.

* In informal trade between foreign exchange houses as measured by Reuters, the peso gained 0.13 percent to end at 3.7375/3.7425 ARSB=.

* The MerVal stocks index .MERV closed slightly higher as investors pocketed profits from recent gains, finishing the month up 13.26 percent.

* Telecom Argentina (TEC2.BA: Cotización), one of the country's top telephone companies, rose 6.416 percent to 6.8 pesos.

* Prices of government bonds traded over the counter in Buenos Aires fell 0.8 percent on average, also spurred by profit-taking.

* Peso-denominated Disc bonds ARDISCP=RASL fell 1.5 percent according to the ask price. (Reporting by Walter Bianchi and Jorge Otaola; Writing by Kevin Gray; Editing by Dan Grebler)