June 1, 2009 / 9:43 PM / 11 years ago

Argentina stocks, bonds surge amid global rally

BUENOS AIRES, June 1 (Reuters) - Argentina’s stock, bond and currency market trends on Monday:

* The MerVal stocks index .MERV jumped 4.34 percent to close at 1,656.11 points, its highest level since late September, tracking sharp gains on Wall Street and in commodities prices.

* Bellwether Tenaris TENA.BA, the world’s leading producer of seamless steel tubes for the energy industry, rose 3.2 percent to 62.10 pesos per share as U.S. crude futures settled near a seven-month high.

* On the broad stock market, volume was modest at $15.3 million. Of active shares, 69 advanced, 10 declined and 11 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires surged 3 percent on average, topping off a 19 percent gain seen in the month of May.

* The dollar-denominated Boden 2012s ARBODEN12D=RASLgained 4.7 percent to an ask price of 33.50, buoyed by the global market upswing along with reports the government will offer this week to pre-pay the coupon coming due in August — signaling the country’s ability and willingness to pay.

* “The total payment due in August totals $2.3 billion, but the pre-payment of the coupon with a 5 percent haircut would mean a savings of just above $100 million for the government,” a report by Grupo SBS brokerage said.

* In formal exchange between banks, the Argentine peso firmed 0.13 percent to end at 3.7425/3.7450 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso strengthened by the same percentage to 3.8025/3.8075 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Hilary Burke; Editing by Leslie Adler)

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